U.S. Ambassador to Germany, Richard Grenell announced on Tuesday that Volkswagen AG complys with US sanctions and will leave Iran.
“We are pleased with this decision, because Iran diverts its economic resources away from its people to spread violence and instability across the globe,” Grenell said.
“Volkswagen closely monitors the development of the political and economic situation in Iran and the region. In this context, we also consider possible implications in connection with the re-imposition of U.S. sanctions,” Bloomberg qouted VW.
According to Bloomberg, "Andreas Renschlera Volkswagen board member who oversees the company’s commercial vehicle unit, announced on Tuesday that his division had suspended plans to expand into Iran."
U.S. President Donald Trump withdrew from Iran Nuclear Deal in May and reimposed econimic sanctions on Iran.
While the EU is trying to support the deal, several European companies so far have complied with the sanctions and left Iran.
