STORE

Renault to stay in Iran despite US sanctions: CEO

Paris (AFP) – French carmaker Renault will maintain its presence in Iran despite the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said Friday.

“We will not abandon it, even if we have to downsize very strongly,” he told shareholders at the annual shareholders’ meeting in Paris, since this would give the company an advantage “when the market reopens”.

.