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Renault, Peugeot ready to return to Iran if Vienna talks yield results

Nuclear Program Materials 7 February 2022 15:02 (UTC +04:00)
Renault, Peugeot ready to return to Iran if Vienna talks yield results

TEHRAN, Iran, Feb.7

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Resuming bank ties and trade between Iran and France depends on the outcome of the Vienna talks, chairman of Iran and France Chamber of Commerce Mehdi Miremadi told Trend.

"French auto makers Renault and Peugeot are ready to return to Iran's market if the agreement is reached," he said.

Miremadi went on to note that Iran-France trade in 2021 was less than $100 million while the trade in 2016 was $4 billion, mostly due to oil exports.

"Small German and Italian companies are working with Iran, but the French do not. Bartering goods between Iran and France was previously possible due to INSTEX (EU-Iran trading mechanism designed in 2019 to allow Europeans continue trade with Iran)," he stressed.

"The Trade and Promotion Organization of Iran was not able to open path of trade with Europe. So the possible agreement reached in Vienna would resume banking ties," he said.

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