Iran wants to pay compensation according to the terms of the contracts of the French carmaker companies that stopped their activities in the country because of US sanctions.

Muhan Salihi Niya, minister of mining and trade, minister of industry and industry in Iran, said that the automobile industry's production volume of the French carmaker Peugeot, which suspended its activities in the country, decreased.

Salihi Niya stated that the necessary guarantees were received in agreements made with French carmaker companies and that Peugeot, which cuts investments in Iran due to US sanctions, should pay compensation.

Salihi Niya noted that the parts supply needed by the automotive industry will be provided by the domestic car maker "Iran Khodro".

The US administration has enacted sanctions on August 7 after unilateral withdrawal from Iran without a nuclear deal. The sanctions also target the second-tier automotive industry, which comes after oil in Iran. French car makers such as Peugeot, Renault and Citroen have announced that they have stopped trading with Tehran due to US sanctions.

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