French automaker Renault signed on Monday a long-awaited joint venture deal with Iran worth 660 million euros ($779 million) to build up to 300,000 cars per year. The new deal puts Renault in partnership with Iran’s state Industrial Development and Renovation Organisation (IDRO) and private firm Parto Negin Naseh. Renault will hold a 60-percent stake with IDRO and Parto Negin Naseh 20 percent each. Source The Local
OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members in recent days, including Iraq, Algeria, Angola and Nigeria. Source Al Jazeera
“If a state buys (weaponry) from us, it’s no longer a Turkish product. It might be manufactured in Turkey, but it belongs to Ukraine,” Cavusoglu told reporters after meeting his Russian counterpart, Sergei Lavrov, on the margins of the G20 summit in Rome. “Turkey cannot be blamed for this,” he said. Source The Defence Post
Bulgaria has sent 350 additional military personnel to its border with Turkey amid rising migration levels. Defense Minister Georgi Panayotov told Bulgarian media that the troops were arriving to “support the border police”. Source EuroNews
