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Iran Signs $16.6 Billion Deal with Boeing: First Such Contract since Sanctions Lifted

Despite Iranian President Hassan Rouhani’s charges that the United States is violating the agreement it brokered between the Islamic Republic and Western powers because banks remain hesitant to do business with Tehran, Iran has signed a $16.6 billion deal to buy new aircraft from America’s Boeing Corporation. A second deal with Airbus, also for new aircraft to replace IranAir’s aging fleet, was worth at least $10 billion. While Boeing has announced the $16.6 billion figure, officials in Tehran insist the Iranian buyers are taking advantage of deep discounts resulting from the downswing in orders for Boeing’s long-range version of the 777. The Iranians also wanted to conclude the agreement with Boeing before President-elect Donald Trump takes office because of his campaign threats to “tear up the deal” with Iran.