German industry groups see surge in Iranian business after preliminary nuclear deal

April 3, 2015 19:25

BERLIN - German companies are hoping to win billions of euros worth of business from Iran after world powers reached a preliminary nuclear accord with Tehran, and Germany's engineering body urged banks to revise their business policies towards Iran.

The tentative agreement struck on Thursday opens the way for a settlement to allay Western fears that Iran could build an atomic bomb, with economic sanctions on Tehran being lifted in return. But difficult details still need to be worked out before a self-imposed June deadline.

"German businesses see the agreement as an encouraging sign," Felix Neugart, a foreign trade expert at Germany's DIHK Chambers of Commerce and Industry, told Reuters.

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