Two German companies finish their projects in Iran

Two German companies finish their projects in Iran



Twilight News

3 hours ago

German rail operator Deutsche Telekom (Deutsche Telekom) and Deutsche Telekom (Deutsche Telekom) are winding down their projects in Iran after Washington imposed new sanctions on Tehran and said its client companies would be barred from doing business with the United States.

The new US sanctions on Tehran took effect last week and several European companies suspended investment plans in Iran under the sanctions, including Total Oil, BSA, Renault and Daimler.

A spokeswoman for Deutsche Bank said on Thursday that the state-owned company was working on two projects in Iran through its engineering and consulting unit, DB.

"We will complete the projects in August and September 2018, respectively. As a result of changing banking practices, we sought to terminate the contract in a friendly and timely manner. "

Deutsche Bank signed a memorandum of understanding with Iran's Beniad Eastern Railways in May 2017 on the first project, which aims to identify the potential for rail and regulation vehicles.

The second project, which began about a year and a half ago, is a consultative contract with the Iranian State Railways Company, which includes restructuring the company, she said.

Separately, Deutsche Telekom's IT subsidiary, DT-Systems, has completed its work in Iran, a spokesman said. Detikon provides consulting services to companies in the telecom sector.

"Until the decision to stop operations was made, sales in Iran in 2018 reached about 300,000 euros," the spokesman said.

"Due to the sensitivity of relations with Iran worldwide, Detikon ended its business in Iran with immediate effect in mid-May 2018," he said.

Deutsche Telekom ended its business in Iran after its US unit T-Mobile announced it would buy Sprint Corp. in a $ 26 billion deal that is still awaiting approval from US regulators.

http://www.shafaaq.com/ar/Ar_NewsReader/ac333b30-a884-4f73-ba3a-7830bb7e00b1