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| Syria-Lebanon-Iran |
| French carmaker PSA to exit Iran over US sanction risk |
| 2018-06-05 |
| [IsraelTimes] Maker of Peugeot and Citroen cars says sales to Islamic State ...formerly ISIS or ISIL, depending on your preference. Before that al-Qaeda in Iraq, as shaped by Abu Musab Zarqawi. They're very devout, committing every atrocity they can find in the Koran and inventing a few more. They fling Allaharound with every other sentence, but to hear the pols talk they're not reallyMoslems.... make up less than 1% and company is keen to reenter American market French automaker PSA said Monday that it would pull out of two joint ventures to sell its cars in Iran to avoid the risk of US sanctions, after Washington withdrew from a key nuclear deal with Tehran. "The group has begun to suspend its joint venture activities, in order to comply with US law by August 6, 2018," the maker of Peugeot and Citroen cars said in a statement. European officials have vowed to try to shield their companies working in Iran from the reach of punishing US sanctions that are set to come into effect by November. But with US President Donald Trump ...New York real estate developer, described by Dems as illiterate, racist, misogynistic, and what ever other unpleasant descriptions they can think of, elected by the rest of us as 45th President of the United States... showing little inclination to spare EU companies, they must decide whether to continue to work in Iran if doing so puts their US operations at risk of huge fines. PSA, Europe’s second-biggest carmaker, signed deals with two Iranian automakers, Iran Khodro and Saipa, in 2016, after sanctions were lifted following the landmark 2015 accord aimed at preventing Tehran from developing nuclear weapons. It was among several companies that rushed into Iran, hoping to meet pent-up demand in a country that had been squeezed by sanctions for years. Last year, PSA sold nearly 445,000 vehicles in Iran, making the country one of its biggest markets outside La Belle France. Although it has been absent from the US market since 1991, the company said in January that it was hoping to launch a car-sharing service in one or two American cities. But PSA, which also owns the Opel and Vauxhall brands, also noted that Iran sales still make up less than one percent of its total sales, and so exiting the country would not alter its financial guidance. "With the support of the French government, the Groupe PSA is engaging with the US authorities to consider a waiver," it said. Yet the CEO of French oil giant Total, who was hoping to launch a major natural gas project in Iran, said last week that the chances of winning exemptions to the US sanctions were "very slim." |
| Posted by:trailing wife |
| #3 says sales to Islamic State make up less than 1% and Last year, PSA sold nearly 445,000 vehicles in Iran do not add up. I can believe 445K Peugeots sold in Iran. Wikipedia writes: PSA Production output: 3.63 million (2017) Also of interest what is Daimler AG going to do? |
| Posted by: Knuckles Dark Lord of the Weak8836 2018-06-05 22:46 |
| #2 Bobby, if you go to the link you’ll see that The Times of Israel pulled this article from the Agence France Presse feed. That’s AFP boilerplate, not what Israelis believe. |
| Posted by: trailing wife 2018-06-05 22:18 |
| #1 landmark 2015 accord aimed at preventing Tehran from developing nuclear weapons. Even in Israel they believe the Obumble Legacy meme? |
| Posted by: Bobby 2018-06-05 15:01 |