Iran’s exports to the European Union have increased 500% and reached around $3.86b in the first four months of 2017 in comparison to the same period in 2016. Moreover, the commercial exchange between Iran and EU countries increased by 127% from $3.29b to $7.44b, according to Zawya.

Meanwhile, EU’s exports to Iran witnessed a 44% increase to $3.58b from $2.46b in the first four months of 2016, Iran Daily stated.

The changes in the exports and imports amounts are due to termination of oil sanctions previously imposed on Iran.