Baku, Azerbaijan, Nov.13
By Leman Zeynalova – Trend:
German multinational automotive manufacturing company Volkswagen Group closely monitors the development of the political and economic situation in Iran, the company told Trend.
“Volkswagen complies with all applicable national and international laws and export regulations. Volkswagen closely monitors the development of the political and economic situation in Iran and the region,” said the company.
In this context, Volkswagen Group said it also considers possible implications in connection with the re-imposition of US sanctions.
Volkswagen signed an agreement with Iran's Mammut Khodro to import VW brand models in June 2017, thereby returning to Iran after 17 years.
Volkswagen AG (VOWG_p.DE) rejected on Thursday a report suggesting it had decided against doing business in Iran after coming under pressure from Donald Trump’s ambassador to Germany, saying its position on the country had not changed.
US sanctions against Iran, introduced by President Trump after his decision to pull the United States out of the Iran nuclear deal, have forced companies in Germany and across Europe to reconsider their investments there.
The Volkswagen Group, with its headquarters in Wolfsburg, is one of the world’s leading automobile manufacturers and the largest carmaker in Europe.
The Group comprises twelve brands from seven European countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN.
The Volkswagen Group is also active in other fields of business, manufacturing large-bore diesel engines for marine and stationary applications, turbochargers and -machinery, special gear units, compressors and chemical reactors.
In addition, the Volkswagen Group offers a wide range of financial services, including dealer and customer financing, leasing, banking and insurance activities, and fleet management.
The Group operates 123 production plants in 20 European countries and a further 11 countries in the Americas, Asia and Africa.
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