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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
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Amrita Sen, chief oil market analyst at Energy Aspects, expects Iranian oil production to drop.Source: Bloomberg)
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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.