News

Stuttgart, Germany - Luxury carmaker

Daimler on Thursday became the latest German firm to break off business ties with Iran.

The move to sever ties have effect immediately, said Daimler, which is the manufacturer of luxury Mercedes-Benz cars.

Daimler chief Dieter Zetsche said the company conducted a critical
review of its links with Iran following recent political developments
in the country.

'As a result we have pulled out of our business with Iran,' said Zetsche.

Daimler's principal concern was the international tensions surrounding Iran's nuclear energy program.

Zetsche insisted that the move was not directed at the Iranian people.

'The policy of the current Iranian leadership means that we have to break off our relationship with the country,' he said.

In April, Zetsche announced at Daimler's annual general meeting that it had pulled out of its 30 per cent stake in an Iranian >>>