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Volkswagen pulls out of Iran, according to US official

Cartoon of President Trump ripping Iran's Nuclear deal [Twitter]
Cartoon of President Trump ripping Iran's Nuclear deal [Twitter]

Volkswagen AG will end almost of all its operations in Iran, Bloomberg reported on Wednesday, citing a US official who led the discussions with the carmaker.

The Trump administration persuaded Volkswagen to comply with US sanctions on Iran, Bloomberg said.

The White House and Volkswagen were not immediately available for comment on the report.

 Iran: Trapped between a military rock and an economic hard place

In May, US President Donald Trump pulled out of a 2015 pact between Iran and major world powers under which sanctions were lifted in return for Tehran accepting curbs on its nuclear program.

According to the Bloomberg report, US Ambassador to Germany Richard Grenell led the talks with the Wolfsburg-based company.

Volkswagen will be able to conduct some business in Iran on humanitarian grounds, the report said.

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