French car-maker PSA Peugeot Citroen will pay Iran over 400 million euros ($446 million) in compensation for losses after it quit the country due to sanctions, the managing director of the country’s largest carmaker said on Sunday. Peugeot, the biggest-selling European carmaker in pre-sanctions Iran, suspended sales in 2012 when an international boycott against Iran due to its nuclear program was extended to the automobile sector. Most sanctions were lifted in January.