Trump’s looming sanctions could cripple Iran’s auto industry
|06/13/2018||Posted by BusinessMediaguide.Com under General World News||
- The US is set to reimpose sanctions on Tehran after withdrawing from the Iran nuclear deal.
- PSA Peugeot announced unwinding of its joint ventures in Iran.
- The move will likely drive market contraction, according to analysts.
As companies withdraw foreign brands and halt planned investments in Iran, analysts think the country’s auto industry could be the first to hurt.
Trump announced last month the US will reimpose “the highest level” of economic penalties against Iran as it exits the 2015 deal, which previously eased sanctions so long as Tehran curbed its nuclear weapons program. Any nations who help Iran “in its quest” read more >>>