US to debate prevention of Boeing sale to Iran

US House of Representatives is heading into a meeting to debate a legislation that blocks US financing of Boeing Co. airlines’ sales of planes to Iran. (Reuters)

United States House of Representatives is heading into a meeting to debate a legislation that blocks US financing of Boeing Co. airlines’ sales of planes worth up to $25 billion to Iran, USA Today reported on Thursday.

The international agreement to curb Iran’s nuclear program made such sales possible by easing sanctions on Tehran, but some members of the US Congress who oppose it want to block proposed sales of some 200 jetliners, worth about $50 billion at list prices, to renew Iran Air’s aging fleet.

US President Barack Obama has the possibility to veto the legislation if the bill would be sent to him by Congress. It represents the latest bombardment from lawmakers against the nuclear deal negotiated with Iran, which President-elect Donald Trump vowed to overturn once in office.

Since it is based in Chicago, Boeing must obtain a license from Treasury before the sale can go through. France-based Airbus must also obtain a license, as would virtually any aircraft maker, because its planes contain more than 10 percent US content.

Supporters of the Boeing sale say American firms will lose out to foreign competitors if the US government bars sales to Iran.
Although the nuclear pact eased sanctions connected to Iran’s nuclear program, restrictions related to concerns such as terrorism support and human rights abuses remain.

(With Reuters)

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Last Update: Wednesday, 20 May 2020 KSA 09:50 - GMT 06:50
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