German Business Groups Warn Sanctions on Iran Would Cost Thousands of Jobs

Germany's main chamber of commerce federation, DIHK, warned on 1 September 2006 that potential economic sanctions against Iran could put more than 10,000 German jobs at risk. The group said sanctions would deal a serious blow to one of Germany's most important export markets.

Iran was Germany's largest export destination in the Middle East in 2005, surpassing the United Arab Emirates and Saudi Arabia. German exports to Iran totaled more than 4.4 billion euros (5.6 billion dollars) that year. About 50 German companies maintain branches in Iran, and over 12,000 firms have representatives there.

The uncertainty surrounding the dispute had already begun to weigh on trade: German exports to Iran dropped 10 percent in the first half of 2006, DIHK noted.

The warnings came after Iran missed a UN Security Council deadline to halt uranium enrichment. The United States and the European Union have expressed concern that Iran is pursuing nuclear weapons, a charge Tehran consistently denies. International sanctions were described as a possible next step if Iran continued to refuse compliance.

Historical summary. TurkishPress restated this wire report, first published in September 2006, in its own words.