Companies / Iran
Iran Sanctions Hold Back Logan
March 2008 | Company News AlertIran Khodro has drastically reduced its projection for output of French partner Renault's budget Logan model, blaming US and UN sanctions against the country for the cutback. During the current Iranian year ending March 19, Iran Khodro was expecting to produce 51,000 units of the Logan, known as the Tondar in Iran. However, difficulties in obtaining major raw materials which fall under sanctions have delayed production and output of just 13,000 units looks more probable. In addition to banking restrictions instigated by the US, three sets of UN sanctions prohibit the import of dual-purpose equipment, which could be used in
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