French car maker returns to Iran after four-year absence as sanctions lifted

PARIS��PSA Peugeot�Citro�n�on Thursday signed a deal with Iranian manufacturer Iran Khodro to start a joint venture that will produce cars in the Middle Eastern nation, marking a return to the country for the French car maker after a four-year absence.

The deal, long anticipated since Iran and the West signed a historic nuclear deal last year, comes just one week�after economic sanctions were lifted�against the Middle Eastern country. The contract, along with several other major�business deals between Iran and France, was signed at a special ceremony with Iranian President��Hassan Rouhani�in Paris.

�We are coming in hopes of a very long-term relationship,� said�Carlos Tavares,�chief executive at Peugeot. �We will be present in this country in a very profound manner.�

By The Wall Street Journal