Published: Sat, May 12, 2018
Money | By Ralph Mccoy

Iran expects word from Airbus on plane deal soon - Fars

Republican Strategist Amy Tarkanian on North Korea and President Trump's decision to pull out of the Iran nuclear deal.

Donald Trump's decision to break with the landmark nuclear deal with Iran was met with defiance in Tehran, where the president Hassan Rouhani said he believed the agreement could still survive - but warned that he had instructed the country's atomic energy agency to prepare to restart uranium enrichment should the deal collapse completely.

European businesses and their representatives in government were thrown into disarray by President Trump's threat to reimpose sanctions on trade with Iran. But for some of those companies, those deals could turn into losses if the new sanctions require them to cancel transactions.

"The Boeing and Airbus licenses will be revoked", Mnuchin told reporters Tuesday. It is feared that, should European Union companies stop business with Iran, the regime could conclude there is no longer any benefit to remaining in the deal, which is created to limit the achievement of its nuclear ambitions. That was in addition to a previous deal, valued at almost $17 billion.

"During the talks with Airbus and Boeing we did not consider any possibility of such exit from the deal and it was not mentioned in the contracts", Fakhrieh-Kashan, a former deputy minister who negotiated the contracts, told Fars.

Meanwhile, Boeing said the company would consult with the government on next steps. "As we have throughout this process, we'll continue to follow the U.S. Government's lead", Boeing Vice President Gordon Johndroe said in a statement, according to The Washington Post. Three of the 100 planes that were part of the agreement have been delivered.

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"No downpayment has been made by Iran to the planemakers for future deliveries", he added.

The Treasury secretary said that the sanctions will also sharply curtail sales of oil by Iran, which is now the world's fifth-largest oil producer. All the deals are dependent on US licences because of the heavy use of American parts in the planes.

In a statement, GE said it would amend its plans if necessary to comply with US government policy. US law gives the Treasury secretary the power to administer sanctions imposed by the president.

Moreover, the new USA ambassador to Berlin warned German companies to halt activities in Iran.

What he doesn't seem to realize is that, whether he wants it or not, Iranians will continue to close deals with companies from other countries. "As a matter of principle, Volkswagen complies with all applicable national and worldwide laws and export regulations". The American company is set to lose $20 billion in contracts thanks to Trump.

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