'Very strong sanctions' will bring Iran back to negotiations, United States treasurer says

'Very strong sanctions' will bring Iran back to negotiations, United States treasurer says

'Very strong sanctions' will bring Iran back to negotiations, United States treasurer says

They also represent a lost opportunity for Chicago-based Boeing and Toulouse, France-based Airbus. Iran has ordered 53 wide-body jets from Airbus and 30 from Boeing, which are yet to be built.

Boeing never closed its transaction with Iran Air, and downplayed the historic deal's prospects after Trump took office.

"We will consult with the USA government on next steps". "As we have throughout this process, we'll continue to follow the U.S. government's lead", the company said.

But Boeing's European rival Airbus (EADSY) rushed more eagerly into Iran, adding 98 jets onto its order books and delivering three jets to Iran.

At list prices, those are valued at just shy of $20billion. In total, the deals are valued at $20 billion Dollars.

Last month, Boeing chief executive Dennis Muilenburg said the company had no aircraft due to be sent to Iran this year.

"That's something we'll consider on a case-by-case basis, but as an overview, I would say that the goal is to broadly enforce the sanctions", he said, adding the administration's objective was to deny Iran access to the USA financial system.

But Muilenburg said the production rate the company had put in place was not dependent on the Iranian orders.

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The company separately has a 30-airplane deal with Iran's Aseman Airlines, the Post reports. Last month, Boeing said it had found new homes for jets it hoped to deliver to Iran this year, adding it had no Iranian deliveries scheduled or part of production this year.

Boeing and Airbus orders worth nearly $US40 billion at list prices are collateral damage in the Trump Administration's decision to pull out of a nuclear pact with Iran. Within minutes, Steven Mnuchin, the US Treasury Secretary, said licences already granted by the United States to allow jet exports by both Airbus and its main competitor, Boeing, would be cancelled. "Under the original deal, there were waivers for commercial aircraft, parts and services and the existing licenses will be revoked".

"We're carefully analysing the announcement and will be evaluating next steps consistent with our internal policies and in full compliance with sanctions and export control regulations", an Airbus spokesman said in an emailed statement.

The U.S. move also creates a more unpredictable environment in the Middle East, in which Iran could choose to lash out against U.S. interests more openly or keep chipping away at them and extending its regional influence.

While the Airbus deal is not necessarily totally dead, prospects for filling it are "not great", he said.

"They hadn't been doing business with Iran for a long time", Windau said.

Airbus has 97 planes for Iran on its backlog.

"To implement the President's direction, the Departments of State and of the Treasury will take steps necessary to establish a 90-day and a 180-day wind-down period for activities involving Iran that were consistent with the USA sanctions relief provided for under the JCPOA", the statement said. "Iran probably feels more comfortable trading with Europe". The U.N. nuclear watchdog agency has said Iran has not violated provisions of the accord.

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