Sanctions Push ThyssenKrupp To Cut Iran Business

Law360, New York (September 23, 2010, 1:32 PM EDT) -- ThyssenKrupp AG plans to stop doing business with Iranian customers in the wake of sanctions the U.S. and the European Union imposed over Iran's rogue nuclear program, making the steel manufacturer the latest German company to cut ties to the Middle Eastern nation.

ThyssenKrupp said Thursday that it would not enter into any new agreements to provide services to Iranian customers, effective immediately, and plans to exit its current contracts and interests in the country as soon as possible.

The materials company had already told all...
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