American Sanctions Forced Renault Out Of Iran

Following PSA's exit from Iran last year, Renault is the latest French car maker to leave the Middle Eastern country, thanks to American derived sanctions. La Tribune reports that Renault will stand to lose about 100,000 units worth of sales in Iran, with variants of the Dacia Logan making up the bulk of their volume. Renault built the cars locally in a joint-venture with IKCO (also a partner of PSA), with Renault holding a 51 percent stake. Renault's Carlos Tavares cited American sanctions on trade with Iran as a driving force behind the decision. Violating the sanctions would have had major implications for Renault-Nissan, namely difficulties doing business in the United States. While PSA's exit was largely blamed on pressure from alliance partner General Motors, Renault's own decision to leave appears to be motivated solely by the consequences of non-compliance. from The Truth About Cars http://www.thetruthaboutcars.com

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