Iran Signs $300M MoU on Export of Cars to Russia

Iran and Russia have signed a memorandum of understanding (MoU) valued at $300 million for the export of Iranian cars to Russia, the semiofficial Fars news agency reported on Monday. Mohammadreza Najafi-Manesh, president of the Association of Homogeneous Powertrain Industries and Parts Manufacturers said Venezuela had recently imported 1,000 Iranian vehicles, and that “Russia and Venezuela are two good markets for Iranian car exports, and if the export conditions are met, we can find a suitable position in terms of car exports.” The South American country, he said, was expected to order more cars from Iran in the future. Iran has also exported cars to Armenia and Azerbaijan, he added.