Airbus receives US license to sell aircraft to Iran

Airbus has received a license from the US government to sell its first 17 aircraft to Iran, part of a larger deal inked earlier this year, a company spokesman said on Wednesday.

The Toulouse-based aircraft manufacturer agreed to sell 118 model A320 and A330 planes to Iran in January during a visit from Iranian President Hassan Rowhani.

The deal had to be approved by US export oversight agency OFAC, part of the Treasury overseeing economic sanctions. The OFAC must approve sales of items that have a technological component produced in the US. The remaining sales are waiting for approval.

Trade relations between Iran and the West have been thawing since longstanding sanctions were lifted after a nuclear accord was reached last year.

Billions of dollars in business deals were signed during Rowhani's France visit, covering the oil and car manufacturing sectors in addition to the sale of the Airbus aircraft.

The jet deal was worth an estimated 25 billion dollars, according to list prices. The aircraft are slated to go to Iran Air as part of its mission to modernize its fleet.

Last update: Wed, 21/09/2016 - 18:25

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