Renewal of car part imports will be welcome in Iran. Picture / AP
The nuclear deal struck by Iran and six world powers will put more rubber on the road in the Islamic republic.
The country's major carmakers stand ready to start receiving parts again from French firms Peugeot Citroen and Renault when the sanctions ease.
That could see Iran's stalled car production
again take off, proving a boon to local carmakers and potentially draw in more foreign investment from other manufacturers hoping to break into the previously restricted market. The nuclear deal struck in Geneva puts the brakes on the most sensitive parts of Iran's uranium enrichment programme in return for relief from economic sanctions.
The sanctions expected to lift include those affecting Iran's motor industry, its petrochemical exports, the sale of gold and other precious metals and the supply of spare parts for Iranian aircraft.
Iran's motor industry has been particularly hard hit by the sanctions.
