Italian automaker Fiat halts sales to Iran
Business Week / Collen Berry

talian automaker Fiat SpA, which controls Chrysler, said Friday that it and subsidiaries will immediately halt sales to Iran, following similar moves by other carmakers under pressure to cut ties to Tehran over its disputed nuclear program.

The international community has been toughening sanctions on the Islamic Republic -- including on its main cash cow, oil -- because of fears that it plans to build nuclear weapons. Iran says its nuclear program is peaceful.

The auto industry has been under pressure from the anti-nuclear lobby group United Against Nuclear Iran to cut off business dealings with Iran. UANI says that the global auto industry is the second-largest source of foreign currency for the Iranian government, after oil, and also a source of foreign technology.

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