Iran signed the country’s biggest-ever car deal, worth several hundred million dollars, with French manufacturer Groupe Renault on Monday to produce 150,000 cars a year, the latest advance by a European company into Iran’s sizable consumer market.

The €660 million — or $778 million — deal follows the lifting of the UN and European Union sanctions after Iran’s 2015 nuclear agreement with world powers to curb its controversial uranium enrichment program, a possible pathway to nuclear weapons.

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