Renault to remain in Iran despite risk of US sanctions

TEHRAN, Jun. 16 (MNA) – The CEO of the automaker Renault said Fri. that French company will not leave Iran and will take measures to avoid the risk of US reinstated sanctions.

According to France 24, Renault CEO Carlos Ghosn told its shareholders on Friday that they will not abandon Iran even if they have to downsize their activities very strongly.

"When the market reopens, the fact of having stayed will certainly give us an advantage," he was quoted as saying by France 24.

Earlier this month, another French carmaker Peugeot-maker PSA Group also announced that it had begun to suspend its joint venture activities in Iran to avoid US sanctions after Washington's unlawful withdrawal from the JCPOA back in May.

French oil major Total has also announced that it will pull out of a multibillion-dollar gas project in Iran if it cannot not secure a waiver from US sanctions. 

KI/PR

News Code 134848

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