Nokia says it is not taking on new business in Iran

HELSINKI: Finnish telecom equipment maker Nokia does not plan to take on any new business in Iran in 2019, it said in its annual report on Thursday, citing difficulties in dealing with conflicting U.S. and European trade policies.

“The diverging EU and U.S. regulatory framework governing business activities in Iran will be far more complex in the future,” Nokia said in its annual 20-F report.

Under the nuclear deal struck between Iran and six big powers in 2015, sanctions imposed by the United States, European Union and United Nations were lifted in return for Iran agreeing long-term curbs on a nuclear programme the West suspected was geared to developing an atom bomb.