Deutsche Telekom, Deutsche Bahn suspend Iran projects

Thursday, 16. August 2018 10:33

Deutsche Telekom AG and Deutsche Bahn AG are withdrawing their projects in Iran, the German Wirtschafts Woche reported on Thursday. The two giants are the newest among German companies to suspend their operations in Tehran as a new round of United States sanctions took effect last week. Daimler and Siemens suspended their Iran projects last week, complying with US measures.

Deutsche Bahn said its reason for withdrawing is "changed banking practices." On the other hand, Deutsche Telekom aims to eliminate risks of US authorities stop the recently announced merger between T-Mobile and Sprint.

After pulling out of the Joint Comprehensive Plan of Action (JCPOA), Washington decided to reintroduce sanctions against Tehran. The new punitive measures took effect last week despite criticism from the European Union, Russia and China.

Related Links: Deutsche Telekom AG
Baha Breaking the News (BBN) / SS