Renault Readying to Renew Iran Exports Pending Details - Bloomberg:
"Renault SA (RNO) is readying to resume the export of car parts to Iran pending “clarifications” on the easing of trade sanctions against the country, said Gilles Normand, chairman of the French automaker’s Asia-Pacific region.
“We can start the preparatory work” with suppliers while “waiting for the go-ahead on the possibility to exports parts to Iran,” Normand said in an interview in Tehran. Such a move would require an opening of financial transactions channels with the country, he said.
A preliminary agreement last month between Iran and six world powers in Geneva allows for the lifting of some sanctions on the auto industry. Normand, speaking on the sidelines of the Auto Industry International Conference held in the Iranian capital yesterday, said implementation will take time."
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