Germany ready to help its firms to continue business in Iran

German Economic Minister Peter Altmaier leaves after delivering a statement regarding the Trump Administration's steel and aluminium tariffs, outside of the White House in Washington, U.S., March 19, 2018. REUTERS/Leah Millis

Vastavam web: Germany is ready to help its firms continue doing business in Iran, its economy minister said on Friday, as the U.S. envoy to Berlin called into question the morality of such transactions.Tuesday’s U.S. withdrawal from the 2015 nuclear accord and planned reimposition of sanctions against Iran came with the threat of penalties against any foreign firms involved in business there.

“We are ready to talk to all the companies concerned about what we can do to minimize the negative consequences,” he told Deutschlandfunk radio.“That means, it is concretely about damage limitation” and included offering legal advice, he said.Around 120 German firms have operations with their own staff in Iran, including Siemens (SIEGn.DE), and some 10,000 German companies trade with Iran.