US Treasury Secretary said Tue. that licenses for Boeing Co and Airbus to sell passenger jets to Iran will be revoked following Trump’s withdrawal from the nuclear deal and the reinstatement of sanctions against the Islamic Republic. According to Reuters, US Treasury Secretary Steven Mnuchin told reporters at the Treasury on Tue. that “the Boeing […]
US Treasury Secretary said Tue. that licenses for Boeing Co and Airbus to sell passenger jets to Iran will be revoked following Trump’s withdrawal from the nuclear deal and the reinstatement of sanctions against the Islamic Republic.
According to Reuters, US Treasury Secretary Steven Mnuchin told reporters at the Treasury on Tue. that “the Boeing and (Airbus) licenses will be revoked. Under the original deal, there were waivers for commercial aircraft, parts and services and the existing licenses will be revoked.”
He said that the US would no longer allow the export of commercial passenger aircraft, parts and services to Iran after a 90-day period.
After the 90-day period ending Aug. 6, the Treasury said it would also revoke a license that allowed US companies to negotiate business deals with Iran. The Boeing license had been valid until September 2020, a person involved in the deal said.
In December 2016, France-based Airbus Group signed a deal to sell Iran 100 jetliners worth about $19 billion. It has delivered three planes so far.
Airbus said on Tuesday before the Mnuchin news conference that it would study Trump’s decision, adding that it would take some time.
Boeing agreed in December 2016 to sell IranAir 80 aircraft, valued at $16.6 billion. Later it announced another agreement in April 2017 to sell Iran 30 Boeing 737 MAX aircraft for $3 billion.
“As we have throughout this process, we’ll continue to follow the US government’s lead,” Boeing spokesman Gordon Johndroe said before Mnuchin’s comments.
As such, Trump’s pullout from the nuclear deal and his move to reinstate sanctions that were lifted under the agreement will cost Boeing and Airbus the loss of contracts worth roughly $39 billion.
Meanwhile, Iranian President Hassan Rouhani said that the JCPOA will stay in place if the other sides to the agreement ensure that Iran’s interests will continue to be met in absence of US participation.
