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Daimler reportedly cutting ties with Iran over nuclear weapons program


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Filed under: Europe, Government/Legal, Mercedes-Benz, Earnings/Financials, Middle East


With pressure mounting on Iran to halt its nuclear weapons program, Daimler is reportedly joining the growing list of businesses - German ones especially - that are reducing their commercial activities with the rogue nation.

Daimler has strong business ties in Iran, principally centered around the production and sales of commercial vehicles and diesel engines. Among the moves being undertaken by the German industrial giant are the sale of its 30 percent stake in Iranian Diesel Engine Manufacturing and the withdrawal of an application to sell civilian vehicles to Iran. Critics maintain that the moves are insufficient in the global campaign against Iran's nuclear program, but point towards the initiative as a positive step in the right direction.

The announcement has hit the wire hot on the heels of the nuclear security summit which President Obama hosted recently in Washington, where measures - largely supported by German Chancellor Angela Merkel (pictured above with Daimler chairman Dr. Dieter Zetsche) - aimed at isolating Iran were discussed.

[source: Automotive News - subs. req. | Image: Sascha Schuermann/AFP/Getty]

Daimler reportedly cutting ties with Iran over nuclear weapons program originally appeared on Autoblog on Mon, 19 Apr 2010 11:39:00 EST. Please see our terms for use of feeds.

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