Shipping giant AP Moller-Maersk has said it will stop working in Iran as the international fallout over the collapse of the country’s nuclear deal grows.

Soren Skou, chief executive of the company which is the world’s largest container shipping line, said he would abide by sanctions imposed on the Gulf nation.

“With the sanctions the Americans are to impose, you can’t do business in Iran if you also have business in the US, and we have that on a large scale,” he said. “I don’t know the exact timing details but I’m certain we’re also going to shut down in Iran.”

Maersk is just the latest foreign investor to say it will cut trade ties with Iran in the wake of the US pulling out of the deal under which Tehran had agreed to end its nuclear programme in return for being re-admitted into the global economy.

European countries had hoped to keep the agreement alive by working with Iran even after President Donald Trump said he would reimpose sanctions earlier this month.