Skip to content
Subscriber Only

Trump's Iran Sanctions Spook Europe as Daimler Halts Investments

  • U.S. move prompts German carmaker to freeze Iran expansion
  • European allies condemn, try to counter Trump penalties
Video player cover image
Amrita Sen, chief oil market analyst at Energy Aspects, expects Iranian oil production to drop.Source: Bloomberg)
Updated on

U.S. President Donald Trump’s desire to isolate the Iranian economy seems to be working.

Within hours of Washington unveiling its first round of sanctions, German carmaker Daimler AG froze a plan to make Mercedes Benz trucks in Iran. That’s even after the European Union tried to salvage the Iran nuclear deal by pledging to protect firms from Trump’s assault.