Volkswagen denies US claim it will stop doing business with Iran
Volkswagen (VW) has rejected US claims that the German car manufacturer has decided to quit Iran amid American sanctions, saying it has not changed its position on the Islamic Republic yet.
A Thursday report by Bloomberg quoted US Ambassador to Berlin Richard Grenell as saying that Volkswagen had decided to end doing business with Iran after weeks of talks with the US administration.
Volkswagen announced in July 2017 that it planned to sell cars in Iran for the first time in 17 years, taking advantage of the removal of sanctions that accompanied the signing of the Iran nuclear deal, officially known as Joint Comprehensive Plan of Action (JCPOA).
Earlier in August, the other German carmaker Daimler, the maker of Mercedes-Benz trucks and luxury cars, announced that it had suspended expansion plans in Iran in response to US re-imposition of sanctions on the Islamic Republic.
French carmaker PSA, the maker of Peugeot and Citroen cars, suspended its joint venture activities in Iran back in June.