Economics
Renault Likely to Pull Out of Iran Because of U.S. Sanctions
- French carmaker is latest European company hurt by Trump move
- Possible withdrawal follows similar move by rival PSA
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Renault SA is shaping up to be the latest European company to fall victim to Donald Trump’s renewed sanctions on Iran -- even if it doesn’t sell cars in the U.S.
Iran operations are likely to be put on hold to comply with U.S. sanctions, Renault Chief Operating Officer Thierry Bollore told analysts during a conference call about earnings Friday.