America

November 22, 2016

US Grants Airbus License To Sell 106 Planes To Iran


airbus

The U.S. Department of the Treasury has issued a license to France's Airbus for the sale of 106 commercial planes to Iran Air, Iran's flagship carrier. The Treasury's Office of Foreign Assets Control issued the license on November 21.

Although Airbus is based in France, it must have US approval to sell planes to Iran because at least 10% of aircraft's components are made in America.

Treasury's move comes in the waning months of the Obama administration, which negotiated an international deal with Iran last year that lifted some sanctions in return for curbs on Tehran's nuclear program. US President-elect Donald Trump has threatened to dismantle the deal, which allows for the sale of commercial passenger aircraft to Iran.

Last week, the US House of Representatives passed a bill that would block the sale of commercial aircraft to Iran, which would also affect sales by US firm Boeing.

Credit: Business Standard

Related Post

latest News

  • NCLT Reserves Order On Grant Of Waiver By Mistry Family For April 17

    On April 4, the National Company Law Tribunal (NCLT) concluded the hearing of a plea filed by Cyrus Mistry's family-owned companies to waive eligibili...

    Read More
  • Online applications invited for allotment of lawyer’s chambers: SC

    The Supreme Court of India has issued a notice inviting online applications for allotment of lawyer’s chambers from senior lawyers, Advocates and Ad...

    Read More
  • NO SEPARATE CATEGORY OF ‘COMMODITY DERIVATIVES EXCHANGES’: SEBI

    On September 28, addressing the Managing Directors / Chief Executive Officers of all Stock Exchanges and Clearing Corporations, SEBI issued a Circular...

    Read More