Daimler halts Iran activities due to U.S. sanctions
"We have ceased our already restricted activities in Iran in accordance with the applicable sanctions," the company was quoted as saying in a statement Tuesday.
The German auto group, which decided to return to Iran in 2016 after the lifting of sanctions under an international nuclear deal, had not resumed operations in the country yet.
The carmaker’s re-entry plans for Iran included establishing a joint venture with Iran Khodro Diesel for local production of Mercedes-Benz trucks and powertrain components, plus the establishment of a sales company for Mercedes-Benz trucks in Tehran.
Daimler also planned to return as a shareholder in the former joint venture Iranian Diesel Engine Manufacturing Co (IDEM) in Tabriz.
The company has not sold any cars in Iran since 2010 despite having a long presence in the country where it sold up to 10,000 vehicles a year before the sanctions. ■