German automaker Daimler says it is halting its business activities in Iran after the United States re-imposed sanctions on Tehran.
“We have suspended our already limited activities in Iran in accordance with the applicable sanctions,” a spokeswoman says in a statement sent to AFP, adding that Daimler is closely monitoring political developments.
The move brings a sudden end to Daimler’s expansion plans in Iran, where it was teaming up with two local firms to assemble Mercedes-Benz trucks.
It comes as a first round of renewed US sanctions on Iran come into effect today after the US pulled out of the Iran nuclear deal.
The first sanctions targets access to US banknotes and key industries such as cars and carpets.
A second tranche coming into effect on November 5 is expected to be even more damaging, covering Iran’s vital oil sector.
— AFP
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Tuesday, August 7, 2018
Add ToI as a Preferred Source on Google
