(Bloomberg, 20 June 2016) Iran has paid off outstanding export-credit debt to Germany, paving the way to open renewed trade ties between the two countries after last year’s nuclear agreement scaled back sanctions on Iran. “This is a further important step to revive our economic relations,” Sigmar Gabriel, German economy minister and vice chancellor, said in a statement on Monday. Gabriel said the payment will allow Germany to re-establish credit guarantees that support exports to Iran. The Iranian government had declined to fulfill all its credit obligations while it was subject to sanctions, some of which were lifted in January, the ministry said.
