France's PSA begins to suspend its joint ventures in Iran
None
PARIS - PSA Group has begun to suspend its joint venture activities in Iran, the French carmaker said on Monday, following the withdrawal of the United States from a nuclear pact signed with the country.
European signatories are scrambling to save the accord, which they see as crucial to forestalling an Iranian nuclear weapon, by protecting trade with Iran against the reimposition of US sanctions to dissuade Tehran from quitting the deal.
"The group has begun to suspend its joint venture activities, in order to comply with US law by Aug. 6," PSA said in a statement.
"With the support of the French government, the Groupe PSA is engaging with the US authorities to consider a waiver."
