January 20, 2012 | Quote

European Union Said to Discuss Freezing the Assets of Iran’s Bank Tejarat

Emanuele Ottolenghi, a senior fellow at the Foundation for Defense of Democracies, an advocacy group in Washington that supports sanctions on Iran, said a ban on Bank Tejarat could have serious implications for European carmakers.

“Peugeot and Renault supply spare parts to SAIPA and Iran Khodro, Iran’s leading car manufacturers and producers, under license, of Renault and Peugeot models for the Middle East market,” Ottolenghi said Wednesday. “Targeting Tejarat would prevent payments for Peugeot and Renault (RNO)’s spare parts.”

Read the full article here.


Iran Iran Sanctions