MILAN- Fiat SpA today said it will suspend sales to Iran.
In a statement, the Italian automaker, which controls Chrysler Group LLC, said "that effective immediately its subsidiaries will no longer carry out business activity related to products or components where the ultimate destination of such products is known to be Iran, other than to the limited extent required to fulfill already existing binding obligations."
Fiat's announcement follows similar ones from other automakers, such as Hyundai and Porsche.
According to the Associated Press, the auto industry has been under pressure from the anti-nuclear lobby group, United Against Nuclear Iran, to cut ties with the regime.
UANI CEO Mark Wallace spoke earlier this year about UANI's Auto Campaign before a hearing on Iran sanctions held by the House Committee on Foreign Affairs (video embedded above).
Fiat said sales to Iran in previous years "were totally immaterial in a quantitative and qualitative sense and any concerned products were sold for commercial and civilian use only."
In April, Fox News reported Iran's auto industry, which has business relationships with Nissan, Fiat, Volvo and Peugeot, employs thousands of workers and exports vehicles to more than 30 countries.
Here is the full statement from Fiat:
Fiat supports the international efforts for a diplomatic solution of the issues relating to the relations with Iran. In this respect, Fiat announces that effective immediately its subsidiaries will no longer carry out business activity related to products or components where the ultimate destination of such products is known to be Iran, other than to the limited extent required to fulfill already existing binding obligations.
Sales to Iran based entities during past years by Fiat’s subsidiaries were totally immaterial in a quantitative and qualitative sense and any concerned products were sold for commercial and civilian use only.
Fiat’s subsidiaries having commercial relations with Iranian entities always conducted their businesses in compliance with all applicable laws and regulations, including those of the United Nations, the European Union and Italy.