Iran says Boeing, Airbus talks yet to continue

Business Materials 16 October 2016 16:08 (UTC +04:00)

Tehran, Iran, October 16

By Mehdi Sepahvand – Trend:

Iran’s talks with Boeing and Airbus have not reached a desired point yet and the sides will go on to hold more negotiations, Deputy Foreign Minister Abbas Araqchi said.

“These talks include detailed and complicated technical as well as legal aspects,” he told ICANA news agency October 16.

“Both Airbus and Boeing had applied to the US Treasury for permit to sell airplanes to Iran. The permits were the major issue, but they have been granted now.”

Boeing’s Chief Executive Officer Dennis Muilenburg recently said his company make take one to three years to deliver airplanes to Iran.

According to US law, any company using a minimum 10 percent of US-made parts in their products should have a Treasury authorization to sell the products to Iran.

The sale of passenger airplanes and their parts to Iran was banned by the US after the group “Muslim Student Followers of the Line of Imam” stormed the US Embassy in Tehran in 1979 in what came to be known as Iran hostage crisis.