Massive German insurance company leaving Iran.

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> The world's largest reinsurer Munich Re is expected to bow to US sanctions against Iran under pressure. "We would renounce our Iran business in view of our commitment to our much higher interests in the US market," said CEO Joachim Wenning on Wednesday at the presentation of the interim results in Munich. Munich Re, for example, generates only a double-digit million amount in premiums in Iran, compared with 6.4 billion euros in the USA. However, it was a pity about the growing business in the Gulf state.

>On Tuesday, the car maker Daimler had already announced that he puts his plans for Iran on ice for now. US President Donald Trump unilaterally canceled the nuclear deal with Iran in May and US sanctions have been in place since Tuesday. At the same time Trump warned other states against trading with the Islamic Republic.