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Daimler abandons Iran expansion plans as sanctions bite

August 7, 2018 7:06 AM
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BERLIN (Reuters) - German car and truck manufacturer Daimler (DAIGn.DE) on Tuesday said it has dropped plans to expand its Iran business in reaction to renewed U.S. sanctions, which come into effect on Tuesday.

“We have ceased our already restricted activities in Iran in accordance with the applicable sanctions”, Daimler told Reuters in a statement.

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