Siemens to Resume Transformer Supply to Iran

“Thanks to the entry into force of the JCPOA (the official acronym for the nuclear agreement), representatives of Germany’s Siemens travelled to Iran to set up joint company for bilateral cooperation,” Hadi Golbayani said. 

“Given the need for communications with Siemens, [international] sanctions inflicted heavy damage on our company (which was established 50 years ago under Siemens license),” he added.

Golbayani said communication with abroad was needed mainly for the purchase of raw materials, acquisition of technology and export of products. 

He said his company buys raw materials from Germany, Sweden and India, which became impossible under sanctions. 

“The sanctions had dramatically increased the cost of transfer of raw materials and money transfer for this company, but today thanks to the JCPOA, we can easily buy raw materials from overseas,” said Golbayani.