VW to stop doing business in Iran
Volkswagen has bowed to American pressure stemming from the US rejection of the multi-party nuclear deal and will end almost all its business in Iran, Bloomberg
News reported last week.
The accord was reached after weeks of talks between the German auto giant and the administration of President Donald Trump, said Richard Grenell, US Ambassador to Germany.
VW will still be able to do some business in Iran under a humanitarian exception,
In May, Trump pulled the US out of the deal it reached with Iran and five other countries in 2015.
That accord lifted sanctions against Tehran in exchange for restrictions on its nuclear programme.The US is now re-imposing those sanctions. VW scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years.