Iran signs deal with Renault despite US sanctions

The deal was a victory for Rouhanito as it will help in revitalising an economy hurt by sanctions

The French carmaker Renault signed a multimillion-dollar deal in Tehran on Monday, agreeing to raise vehicle production in Iran just days after President Trump signed into law new sanctions against the country.
 
The roughly $780 million agreement to produce as many as 150,000 additional cars a year is the largest foreign auto deal in Iran’s history, state-run PressTV said. It was a victory for President Hassan Rouhani, who was sworn into office on Saturday after being re-elected this year promising to revitalise an economy hurt by sanctions.
 
Iran, an Islamic republic, is increasingly attracting foreign investors, despite restrictions