German Rail Operator, Deutsche Telekom End Iran Projects

German rail operator Deutsche Bahn and Deutsche Telekom are ending projects in Iran after Washington imposed new sanctions against Tehran and said firms doing business with Iran would be barred from doing business with the United States.

New US sanctions against Iran took effect last week and several European companies have suspended plans to invest in Iran in light of the US sanctions, including oil major Total as well as carmakers PSA, Renault and Daimler.