Page 43 - IRANRptApr19

appeared. The sanctions were then introduced in November 6.
Previous reports indirectly confirm that Rosneft was putting the Iranian ties on hold, as Rosneft-controlled Indian refiner Nayara Energy, one of India’s biggest buyers of Iranian oil , began cutting its imports in July.
Other sources now told Vedomosti that Rosneft will focus more on growth inside Russia, rather than overseas expansion, which is in line with the investor makeover that the company launched earlier this year . Dmitry Marinchenko of Fitch Ratings also reminded that Russia is building closer ties with Saudi Arabia, which is the geopolitical foe of Iran.
"There were no obligations to the Iranian side, no money were invested, so there is no clarity on what will happen," another source told the daily.
9.2.2 Automotive corporate news
Iran’s second-biggest car producer SAIPA has said its production of the Chinese Brilliance H330 sedan in Syria has started, according to the Financial Tribune daily.
SAIPA and the Syrian-Iranian Vehicle Company (SIVECO) are making the vehicle in the war-torn city of Homs at the only automaking plant created in Syria before its civil war began in 2011.
Armada Company, a Syrian car sales agent, will sell the vehicle. A 1,000 units will initially be assembled. Sales are to start in the next few weeks. The cars will be badged with a SAIPA star logo.
The Syrian assembly line has previously produced the 1980s Kia Pride, which remains the most-sold vehicle in Iran to date due to its low price of around $4,000 per unit. It is to reportedly assemble more of that model while also making the Brilliance H330.
In Iran, the price for the H330 has hovered around €8,600.
Car parts were shipped to the facility by boat in recent years because the land route became too unsafe due to the conflict. Some reports told how the plant managed only three to four cars per day during war years, with many completed vehicles gathering dust due to the collapse of the Syrian economy. SAIPA’s biggest Iranian competitor, the slightly larger manufacturer Iran Khodro (IKCO), is also re-establishing itself on the Syrian market. According to a press release from IKCO put out in January, IKCO Dena, Runna and Soren models are to be sold once more in Syria . However, they will be branded under different names. The names of Palmyra, Shemra and Shahba have been mentioned.
Iran’s largest car producer, Iran Khodro (IKCO), has announced it will start offering its Dena sedan in Ukraine as part of a joint-venture deal with an Azerbaijani company, Mehr News Agency reported on February 13. The Khazar-branded vehicle built by AzerMash is assembled in the Naftchala area, 168-km south of Baku under licensing agreed by IKCO. The car has had a lukewarm reception in Azerbaijan but is popular with taxi drivers due to its affordable parts, according to reports. The enterprise produces the IKCO Dena+ model, released in 2016 and based on the Peugeot 405 platform from the 1980s.
Head of IKCO operations in Asia, Europe, America and Commonwealth of Independent States (CIS), Sabina Nobari, said the company was set to export its Dena vehicles to Ukraine through its operations in Azerbaijan.
She said it would send vehicles to Ukraine under the Khazar brand. The vehicles would be sold as completely built units (CBU) and would be shipped via the Black Sea from Georgia, she added.
43 IRAN Country Report April 2019 www.intellinews.com