The Trump administration persuaded Volkswagen AG to end almost all of its business in Iran, Bloomberg reported, citing U.S. Ambassador to Germany Richard Grenell, who led the discussions with the carmaker.
According to the U.S. official, the U.S. and Volkswagen hammered out the final details on September 18 after weeks of talks.
He stressed that the car manufacturer has said it would comply with U.S. sanctions on Iran. "We are pleased with this decision because Iran diverts its economic resources away from its people to spread violence and instability across the globe," the envoy said.
Grenell added that Volkswagen will be able to conduct some business in Iran on humanitarian grounds.
