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.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.