US trade with Iran rose by 600%

TRADE BETWEEN Iran and the US rose by almost 600 per cent during Mahmoud Ahmadinejad’s first four-year term, just as hostile …

TRADE BETWEEN Iran and the US rose by almost 600 per cent during Mahmoud Ahmadinejad’s first four-year term, just as hostile rhetoric between the two countries was reaching fever pitch, figures show.

Contradicting his anti-western policies, the Iranian president presided over a rapid increase in American imports – including a rise in the purchase of bull semen.

The pattern also confounded George Bush’s depiction of Iran as a member of the “axis of evil”. Surprisingly, given Barack Obama’s pledge to pursue engagement with Iran, trade has actually fallen since Mr Bush vacated the White House.

The Tehran chamber of commerce said Iran bought $563 million (€380m) of goods from the US last year, up from $98 million (€66m) in the year after Mr Ahmadinejad’s 2005 election.

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Trade volumes soared despite the Bush administration’s clamour for sanctions over Iran’s nuclear programme. The increase was fed by Mr Ahmadinejad’s policy of spending soaring oil revenues on imports, economists say.

There was a rise in the import of US medical equipment, medicines and artificial body parts. Iran also bought computer equipment and spare parts for its aircraft. Under Mr Ahmadinejad, Iranian traders spent $5.6 million on 735kg of bull semen, which can be used for medicine and cosmetics. Since Mr Obama took office trade has fallen. Iran bought just $96.2 million of US goods in the five months since March, the start of the Iranian year. – (Guardian service)