Volkswagen withdraws from Iran

Volkswagen withdraws from Iran

Tehran _ Agencies

Volkswagen has decided to suspend its activities almost completely in Iran at the end of US pressure, the Bloomberg news agency quoted the US ambassador in Berlin Richard Grenelle as reporting.

Grynell told Bloomberg that an agreement had been reached between the U.S. automotive and foreign group.

Under the agreement, Volkswagen retains very limited activities in Iran, limited to humanitarian reasons.

US President Donald Trump announced in May to withdraw from the nuclear deal signed in 2015 between Iran and the six major countries, which allowed Western companies to re-engage with the country.

On impact, Washington has re-imposed sanctions on Iran under the agreement.

According to Bloomberg, Volkswagen abandoned the project it announced in July 2017 to resume selling cars in Iran after being absent from the country for 17 years.