Peugeot factory hit by Iran sanctions fallout

Operations at a Peugeot auto plant in northeastern France have been suspended until at least September because of the lack of spare parts from Iran, union officials said on Thursday. "There is a tentative plan to resume activity and shipments in September," CFTC union official Franck Don told AFP after a work's council meeting. Management from PSA Peugeot Citroen last week put 220 employees at its Vesoul factory in partial redundancy for the month of April due to a slowdown caused by blocked shipments from Iran. This latest decision will require redeploying another 300 workers and the axeing of 300 part-time jobs, a CGT union source said. PSA Peugeot Citroen halted activity with Iran on February 20 when economic sanctions against the Islamic Republic for its nuclear programme came into effect.