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Volvo Finds Exit Ramp from Iran Market - Corruption Currents - WSJ

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Volvo Group has left the Iranian market.

A company spokesman confirmed the authenticity of a letter sent to a U.S. pressure group this week saying it stopped sales of any new equipment in Iran in March 2012, and made a decision in January to stop business with all companies in the country.

The question of pulling out of Iran has been an issue under discussion for several years, said Kina Wileke, the company’s head of media relations, in an interview. Concerns about the Iranian regime led Volvo to pull out, she added.

United Against Nuclear Iran, the U.S. pressure group, sent a letter to Volvo in December calling for the Swedish company to leave the market, accusing it, among other things, of supplying the trucks used by the Iranian government to transport missiles.