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[Wall Street Journal] Editorial - The European Union - led by Germany, France and Italy - has long been Iran's largest trading partner. Its share of Iran's total imports is about 35%. Even more notable: Its trade with Tehran has expanded since Iran's secret nuclear program was exposed. Between 2003 and 2005, Europe's exports rose 29%. Government-backed export guarantees have fueled the expansion in trade. That, in turn, has boosted Iran's economy and its nuclear program. EU taxpayers underwrite trade and investment that would otherwise be deterred by the risks of doing business with a rogue regime. The EU thus provides a lifeline to a regime that is unpopular at home and sponsors terror abroad. 2007-02-23 01:00:00Full Article
How the EU Subsidizes Trade with Iran
[Wall Street Journal] Editorial - The European Union - led by Germany, France and Italy - has long been Iran's largest trading partner. Its share of Iran's total imports is about 35%. Even more notable: Its trade with Tehran has expanded since Iran's secret nuclear program was exposed. Between 2003 and 2005, Europe's exports rose 29%. Government-backed export guarantees have fueled the expansion in trade. That, in turn, has boosted Iran's economy and its nuclear program. EU taxpayers underwrite trade and investment that would otherwise be deterred by the risks of doing business with a rogue regime. The EU thus provides a lifeline to a regime that is unpopular at home and sponsors terror abroad. 2007-02-23 01:00:00Full Article
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