Sunday, Jun 24, 2018
One of America's Great Newspapers ~ Toledo, Ohio


Iran nuclear deal hits gas pedal for carmakers

TEHRAN, Iran — The nuclear deal struck by Iran and world powers will put the rubber to the road for automakers in the Islamic Republic that have been stalled by sanctions.

The sanctions relief, due to start in early January, allows French carmakers PSA Peugeot Citroen and Renault to resume shipping auto parts to Iran for assembly by Iran’s biggest carmakers Iran Khodro and SAIPA.

Car production in Iran this year fell by 72 percent compared to 2011 over the sanctions.

The nuclear deal in Geneva puts the brakes on the most sensitive parts of Iran’s uranium enrichment program in return for relief from economic sanctions.

Officials at an international automobile conference that began today in Tehran eagerly welcomed the deal.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…