"We have suspended our already limited activities in Iran in accordance with the applicable sanctions," a Daimler spokeswoman said on August 7.
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.
Daimler’s decision to quit Iran, while heeding Trump’s threats to penalize sanctions violators, also flies in the face of European Union leaders, who have vowed to maintain business ties and honor Iran’s 2015 nuclear deal with world powers, which the Trump administration abandoned in April.
Despite measures put in place by the EU to encourage European businesses to stay in Iran, Daimler became the latest in a string of giant European corporations to say they are getting out of Iran because they value doing business with the United States.
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