TEHRAN, April 14 (UPI) -- German car giant Daimler plans to reduce its activities in Iran because of the country's policies.
"In view of the current political situation we have ... extensively reassessed this business relationship," BBC News quoted Daimler Chief Executive Officer Dieter Zetsche as saying. "The policies of the current Iranian leadership have compelled us to put our business relationship with that country on a new footing. None of these measures are directed against the Iranian people."
Daimler will sell its 30 percent stake in an Iranian engine company, Zetsche said.
The move comes as European companies are under increasing pressure to cut business ties with Iran because of the regime's unwillingness to cooperate in the conflict over the Iranian nuclear program.
Tehran vows that its nuclear program is purely civilian but the United States and its allies believe that Iran wants to build a nuclear weapon.
Energy companies from Europe, the United States and Russia recently abolished plans to invest in Iran's oil and gas sector as the West is trying to round up support for another round of sanctions against Tehran.