Berlin To Talk Openly With US On Iran, Aims To Avoid Economic Tensions

Previously Germany confirmed that Berlin won’t pull out of the Iranian nuclear deal after the US President Donald Trump had announced withdrawal from the agreement.

German Economy Minister Peter Altmaier stated this Friday, that he would continue to discuss the Iranian situation with the US, adding, however, that Berlin had no reasons to end its Hermes export guarantee scheme for Tehran.

“At the moment, there is no reason to change the valued Hermes scheme,” Altmaier told Deutschlandfunk radio.

Germes cover is an export credit guarantee by the German Federal Government, which enable exporters to cover themselves against economic risks and political risks, including bad debt losses and loss of goods due to politically motivated confiscations, wars and civil unrest. The cover widely used for exports to the countries, which are not members of the Organisation for Economic Co-operation and Development.

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