Stricter Sanctions Against Iran Indirectly Make All Trade Agreements Uncertain

The recent tightening of the sanctions against Iran has further unsettled the German economy. However, the sanctions are so specific that they will only have a direct impact on some German enterprises. Indirectly, however, all economic sectors will be affected by an increasing uncertainty in the trading community.

The sanctions are primarily aimed at the export of oil and natural gas into the EU. Thus, directly affected enterprises are only those which are dependent upon imports from Iran. Transitional regulations have been reached for existing contracts, albeit with a very short deadline of until 1 July 2012. Further uncertainty exists with respect to these transitional regulations, e.g. in the case of long-term framework agreements.