As 20th largest car manufacuturer in the world, Iran resumes exports to Russia after 5-year hiatus

Published July 1st, 2014 - 12:55 GMT

The Iranian carmaker Iran Khodro has resumed automobiles exports to Russia, which it halted in 2009 when Russia adopted stricter Euro-4 emission standards.

The company plans to export 10,000 cars to Russia by 2015, according to the Tasnim News Agency.
Iran Khodro exported more than 12,000 cars to Russia from 2007 to 2009.
The resumption of car exports to Russia comes at a time of greater openness to trade with Iran in the wake of an interim nuclear deal reached in November that saw some international sanctions eased in return for Tehran limiting its nuclear program. Iran hopes to reach a final nuclear deal with Russia and the five other members of the 5+1 group by the end of next month.
According to officials, Iran’s car output is projected to hit 1.3 million in the current Iranian calendar year, which began on March 21, 2014.
However, about $2 billion is needed for Iranian car manufacturers to meet the target.
Iran produced 626,110 cars in 2013, which made the country the 20th largest car manufacturer in the world, according to the International Organization of Motor Vehicle Manufacturers.

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