Iran is pouring billions into solar farms to fix its power crisis. Germany is spending hundreds of billions on offshore wind to end its dependence on Russian gas. Two parallel energy revolutions, driven by the same diagnosis, kept apart by sanctions.
Iran’s closure of the Strait of Hormuz has removed 13 million barrels of daily oil supply from world markets, pushing Europe toward its worst energy crisis since the 1970s. The country Europe sanctioned into economic irrelevance now holds the key to the continent’s energy future.
Siemens AG has maintained a presence in Iran since 1868, transferring turbine technology, building railway infrastructure, and supplying energy equipment. Sanctions shattered the partnership but the industrial foundation remains.
In 2011, the EU and Iran exchanged €27 billion in goods. By 2025, that figure had fallen to €3.72 billion. As China fills the vacuum, Europe’s decade-long economic retreat from Iran looks less like strategy and more like surrender.
Lufthansa Technik’s missed opportunities in the Iranian aviation market and what it is missing out on.