The European Union–. Trade with Iran to decline sharply in 2026 Trade between the European Union and Iran continued to contract during the first eight months of 2026, according to Eurostat. EU exports to Iran fell by 38% year-on-year to around €1.2 billion, with Germany, France and Italy accounting for 55% of the total. EU imports from Iran also fell by 34% to less than 350 million euros. Germany, Spain and Italy accounted for 57% of imports. The decline follows an approximately 18% drop in bilateral trade in 2025, with the EU total -. Trade in Iran was 3.7 billion euros. Source: Eurostat.