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Absent from America, French cars drive into Iran election

Reuters  |  LONDON/PARIS/FRANKFURT 

By Bozorgmehr Sharafedin, Laurence Frost and Edward TaylorLONDON/PARIS/FRANKFURT (Reuters) - French carmakers PSA and Renault are turning their U.S. absence into an Iranian advantage by piling into a resurgent market still off-limits to foreign rivals fearful of sanctions under Donald Trump's administration.The French investment has been seized upon by Iranian President Hassan Rouhani, who is seeking re-election this week, as evidence that his pursuit of a nuclear detente and attempts to attract foreign money will pay off for the economy. PSA - the maker of Peugeots and Citroens - and Renault ...

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First Published: Tue, May 16 2017. 11:32 IST
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