There used to be a time when business dealings between a company from the United States and the state of Iran would have been unthinkable considering the sort of diplomatic troubles that the two countries have been through for the better part of a few decades. However, times have changed and over the past few years, the two nations have worked hard to put behind their difference from the years gone by and hence it is not a surprise that the country has completed a deal with American plane manufacturer to buy passenger planes. The deal was announced by the Minister of Roads and Development in the Iranian government, Mr. Abbas Akhoundi and the finer detals of the deal as well a the financials are going to be revealed in the next few days, according to the statement released by the Iranian governemtn.
Iran is currently looking for ways to modernise the different airlines the operate in the country and in addition to this particular deal, Boeing's rival Airbus had also sold 118 passenger planes to Iran Air. It seems that the country are trying to fast track its entry into the global aviation space and plenty of passenger plane makers could be in for a big payday in the near term.
A report on CNN Money went on to add, "In addition to formal government approval, the deal faces other potential stumbling blocks related to U.S. sanctions that remain in place following the nuclear deal stuck by Tehran and Washington in January. That accord eased financial and oil-related sanctions, and allowed for the case-by-case sale of commercial passenger aircraft and parts to Iran. But the primary U.S. trade embargo targeting Iran remains in place. It prohibits U.S. citizens from investing directly in Iran, and denies Iranian banks the ability to clear U.S. dollars through New York or do business with American financial institutions."