WOLFSBURG (dpa-AFX) - German auto giant Volkswagen AG (VKW.L, VLKAF.PK, VOW.BE) will end almost all of its business in Iran, Bloomberg reported citing a U.S. official who led discussions with the Wolfsburg-based company.
The Trump administration persuaded Volkswagen AG to comply with sanctions on Iran.
The U.S. and Volkswagen hammered out the final details on Tuesday after weeks of talks. Volkswagen will still be allowed to do some business in Iran under a humanitarian exception, U.S. Ambassador to Germany Richard Grenell reportedly said.
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