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Iranian Carmakers Mull JVs With Russian Counterparts

US sanctions have scuttled Iranian car companies’ partnerships with international players, such as Renault, Peugeot and Citroen. As a result, the local automotive firms are looking north and seeking partnership with Russian counterparts
Iranian Carmakers Mull JVs With Russian CounterpartsIranian Carmakers Mull JVs With Russian Counterparts

As traditional foreign partners of Iranian car companies suspend their operations or leave, the local automotive firms are looking north and seeking partnerships with Russian counterparts.
International carmakers with decades-old presence in Iran pulled the plug after Washington imposed blistering sanctions against Tehran last year.
Some of the car companies that have curbed their Iran ties are, France’s Peugeot, Renault and Citroen, along with China’s Brilliance, Haima, Dongfeng BYD, Great Wall, MG and Lifan.
The head of Iran Vehicle Makers Association said Washington has threatened to impose punitive penalties against international carmakers that breach its sanctions against Tehran.

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