French carmaker PSA, known for Peugeot brand, exits Iran over US sanction risk
Peugeot Brand CEO at PSA Peugeot Citroen Maxime Picat presents the Peugeot's 108 at the group's stand of the Geneva Motor Show. (File photo: AFP)/ PSA Group has begun to suspend its joint venture activities in Iran, the French carmaker said on Monday, following the withdrawal of the United States from a nuclear pact signed with the country. European signatories are scrambling to save the accord, which they see as crucial to forestalling an Iranian nuclear weapon, by protecting trade with Iran against the reimposition of US sanctions to ...
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