Germany formally suspends guarantees for business with Iran

BERLIN (AP) — The German government says it is formally suspending export credit and investment guarantees for business in Iran in the wake of authorities’ crackdown on protests. The Economy Ministry said Friday that it also has suspended other “economic formats” including a dialogue on energy issues, in view of “the very serious situation in Iran.” Credit export guarantees protect German companies from losses when exports aren’t paid for. Investment guarantees are granted to protect direct investments by German companies from political risk in the countries where they are made.