Analysis by PMOI/MEK
April 23, 2019 - Business transactions between European Union member states and Iran have dropped to one fifth for the first two months of 2019, a report published by the Statistical Office of the European Communities (Eurostat) says. This is following the return of nuclear-related US sanctions on Iran and according to the statistics published by the European Union, in comparison to the same period last year.
Business transactions between the two sides for the first couple of months of last year was €3.72 billion which has dropped to €756 million in the first two months of 2019.
The EU’s exports to Iran in the months of January and February of 2019 have dropped significantly to less than half compared to the same period in 2018. EU’s exports to Iran for the first two months of 2018 stood at €1.563 billion. This figure, however, dropped to €620 million for the first two months of the following year.
EU’s imports from Iran for the first two months of 2019 compared to the same period last year have dropped to one-sixteenth, equal to about €136 million. The EU has altogether stopped purchasing oil from Iran in 2019 due to sanctions imposed by the U.S. The EU imported €2.157 billion of goods from Iran in the first two months of 2018.