Executive Briefings

Looking to Boost Domestic Industry, Iran Bans Imports of Chevrolets

Iran has banned the import of Chevrolet cars, a week after Supreme Leader Ayatollah Ali Khamenei criticised imports of U.S. autos and asked the government to support domestic production.

Looking to Boost Domestic Industry, Iran Bans Imports of Chevrolets

The semi-official Mehr news agency quoted an unnamed official in the Ministry of Industry, Mines and Trade as saying on Tuesday that an order of 200 Chevrolet cars, worth $7m, should be canceled.

Before its Islamic Revolution in 1979, Iran was a flourishing marketplace for U.S.-manufactured cars and trucks, but a combination of U.S. sanctions barring most trade and Iran's own restrictions blocked sales.

After the nuclear deal which Iran reached with the United States and other world powers last year, and the lifting of most international sanctions in January, Iran listed a few Chevrolet models as cleared for import.

The list, published on the official portal of the industry ministry of Industry, includes only a handful of foreign car makers such as BMW, Hyundai and Porsche. Chevrolet has now been removed from the list.

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The semi-official Mehr news agency quoted an unnamed official in the Ministry of Industry, Mines and Trade as saying on Tuesday that an order of 200 Chevrolet cars, worth $7m, should be canceled.

Before its Islamic Revolution in 1979, Iran was a flourishing marketplace for U.S.-manufactured cars and trucks, but a combination of U.S. sanctions barring most trade and Iran's own restrictions blocked sales.

After the nuclear deal which Iran reached with the United States and other world powers last year, and the lifting of most international sanctions in January, Iran listed a few Chevrolet models as cleared for import.

The list, published on the official portal of the industry ministry of Industry, includes only a handful of foreign car makers such as BMW, Hyundai and Porsche. Chevrolet has now been removed from the list.

Read Full Article

Looking to Boost Domestic Industry, Iran Bans Imports of Chevrolets