Boeing Back to Business in Iran for 1st Time since 1979

Local Editor

In a sign of warming relations with Tehran, American aerospace company Boeing announced it sold products to Iran Air in the third quarter, ending a 35-year freeze that began in 1979.

Boeing, taking advantage of reduced sanctions against Iran, which agreed in November 2013 to halt all nuclear-related research for six months, reported it sold "aircraft manuals, drawings, navigation charts and data" to the Iranian national carrier.

Despite that no aircraft or spare parts were included in the $120,000 worth of sales, the news points to a better investment climate between Boeing and Iran.

Moreover, the US Treasury Department issued a license in April that permitted Boeing to provide "spare parts that are for safety purposes" to the Islamic Republic for a "limited period of time."

Although the US aerospace and war company is not permitted to sell aircraft to Iran, it said that more parts could be sold to Iran Air in the future.

"We may engage in additional sales pursuant to this license," it added.

International relations with Iran dramatically improved following an interim nuclear agreement between Tehran and the P5+1 countries of global powers in November 2013. Following the deal, the US, France, Britain, Russia, China and Germany agreed to reduce sanctions against Tehran.

Source: News Agencies, Edited by website team