Iran sanctions to cost Boeing, Airbus $39bn

Iran sanctions to cost Boeing, Airbus $39bn

The American company is set to lose $20 billion in contracts thanks to Trump. In exchange, the country brought any ongoing nuclear weapons program to an end.

Airbus was first to sign a preliminary agreement with Iran Air in January 2016 for up to 118 aircraft, including 21 A320ceos, 24 A320neos, 27 A330ceos, 18 A330-900s and 12 A380s. Boeing originally made a deal with Iran Air to deliver 80 aircraft valued at $17 billion, and made another agreement with Aseman Airlines for 30 planes for around $3 billion. Now that sanctions should be reinstated thanks to Trump, Boeing will no longer be able to see these deals through.

U.S. Treasury Secretary Steve Mnuchin said on Tuesday the measures would include cancelling export licenses issued to Boeing and rival Airbus SE to sell about $40 billion worth of jetliners to Iranian carriers.

Averring that the agreement is "one of the biggest achievements diplomacy has ever delivered", one that demonstrates that "win-win solutions are possible", she asked Iran's "citizens and leaders" not to let anyone dismantle it. In April of previous year, it received another order from Iran's Aseman Airlines for 30 Boeing 737 MAX planes, with an additional option for 30 more planes.

When asked about this loss, Boeing's VP of Government Operations Communications Gordon Johndroe simply said that the firm was going to comply with the law. Even before his statement, the press Secretary of the Boeing company Gordon jandro announced that the Corporation will be guided by the decisions of the USA administration.

"We will consult with the USA government on next steps". "This might take some time, " a spokesman for the company said by email.

China Trade Surplus with US Grew Sharply in April
Last week, a seven-member USA delegation returned to Washington and briefed Trump on their meeting with Chinese counterparts. The growing trade surplus comes at a time of escalating friction between Beijing and Washington over the imbalance.

Saints' Mark Ingram suspended first 4 games of 2018 season
However, it was expected to remain a 1A/1B situation after that worked out so well previous year for the NFC South champions. The New Orleans Saints will be down an offensive weapon for the first four weeks of the 2018 season.

John Cena And Edge Go At It For The World Title
Just because their relationship is over doesn't mean John Cena and Nikki Bella won't have anything to do with each other anymore. Edge is one of the men he had some of most phenomenal rivalries with, stemming over some time in the ring.

Trump's decision came despite massive efforts by Washington's European allies to convince the USA president to stay in the JCPOA. "I can tell you with confidence that we have continued to build risk mitigation into our 777 production plan". "We urge all sides to remain committed to its full implementation and to act in a spirit of responsibility".

The U.S. says the sanctions will also sharply curtail sales of oil by Iran, which is now the world's fifth-largest oil producer.

"We have no Iranian deliveries that are scheduled or a part of the skyline this year, so those have been deferred in line with the USA government processes", Boeing CEO Dennis Muilenburg told investors April 25. In the case of oil sales, there will be a 180-day period for countries to wrap-up existing contracts and achieve "significant reductions" in their purchases of crude from Iran.

The other signatories' criticism of Trump's announcement was unanimous, worded more or less strongly, depending on the country.

But Boeing didn't have any Iranian deliveries scheduled this year as uncertainty on the license loomed.

The price of oil rose sharply on Wednesday to its highest since 2014 on expectations that the new sanctions will crimp Iranian energy exports. "There are more concerns of something escalating over there in the next several months as the sanctions start to get implemented". And what Trump is doing is just that; making common Iranians bitter at America.

Related news:

Hot News

isis-killer-beheading-video-story-top Juventus one point from Serie A title
May 09, 2018 - 06:56
Napoli's hopes of denying Juventus the Serie A title are virtually over after they conceded a late equaliser at home to Torino . The change paid off as the sub restored Napoli's lead with a strike from outside of the box with 15 minutes remaining.

isis-killer-beheading-video-story-top Post Malone Breaks Beatles Record for Most Top 20 Hits at Once
May 09, 2018 - 06:46
Syracuse-born rapper Post Malone has broken a record held by The Beatles for more than half a century. Malone also has the biggest debut since Taylor Swift's Reputation was released in December 2017.

isis-killer-beheading-video-story-top SRH defend another low total, beat RCB by 5 runs
May 09, 2018 - 06:42
Siraj, in his second spell, scalped the wickets of Yusuf and Wriddhiman in the 19th over with Hyderabad struggling at 143/7. RCB on the other hand are virtually out of the other hand, until some results go in their favor which is highly unlikely.

isis-killer-beheading-video-story-top Joe Burrow To Transfer From Ohio State
May 09, 2018 - 06:38
Florida now drops down to three scholarship quarterbacks after Jake Allen made a decision to transfer away from the program. LSU and Cincinnati have been granted permission to contact Ohio State quarterback Joe Burrow, SI.com has learned.

isis-killer-beheading-video-story-top Kathua rape, murder case: Supreme Court says no to CBI inquiry
May 09, 2018 - 06:34
The lawyer denied that yesterday's court order, shifting the trial of the case to Pathankot , was a setback for them. The 8-year-old was kidnapped from Kathua's Rasana village in January while she was grazing horses.

isis-killer-beheading-video-story-top Ebola outbreak kills 17 in Congo: health ministry
May 09, 2018 - 06:25
Matshidiso Moeti, said, "We know that addressing this outbreak will require a comprehensive and coordinated response". Congo's health ministry on Tuesday described the fresh outbreak as a "public health emergency with worldwide impact".

isis-killer-beheading-video-story-top Elon Musk appeared at the Met Gala with a new girl
May 09, 2018 - 06:20
Musk is well-known for warning of an impending A.I. apocalypse, which he believes is more unsafe than nuclear war. There are few places higher than the Met Gala for a new couple to become official.

isis-killer-beheading-video-story-top Eric Schneiderman, Accused by 4 Women, Quits as New York Attorney General
May 09, 2018 - 06:17
The statute of limitations in NY for prosecuting someone is five years for a serious assault, two years for a lower-level one. Hyde" figure, and Manning Barish said he was "absolutely plastered five nights out of seven". "A tremendous betrayal.

Russia's Medvedev says no plans to change personal income tax for now
May 09, 2018 - 06:01
Medvedev noted that he is only proposing candidates for key posts in the government now and will nominate others later. According to the Russian legislation, Medvedev has to present a Cabinet lineup within a week.

isis-killer-beheading-video-story-top Johnny Manziel hospitalized over prescription meds reaction
May 09, 2018 - 05:55
If he does, it's a two-year deal and he's still waiting to see if an National Football League comes calling for him. Johnny Manziel was hospitalized Monday night in Texas, TMZ Sports has learned.

isis-killer-beheading-video-story-top Israel's dessert in shoe for Abe draws lashing
May 09, 2018 - 05:48
Netanyahu and his wife, Sara, hosted Abe and his wife, Akie, for the dinner at their residence on Wednesday. "Even the prime minister, ministers and members of parliament do not wear shoes to work".

isis-killer-beheading-video-story-top Israel strikes Syria after Trump's Iran move
May 09, 2018 - 05:44
On Sunday, military officials said Iran may be planning to launch missiles at a military target. An Iranian navy base in Syria was attacked on Tuesday, sources confirmed to Fox Information.

isis-killer-beheading-video-story-top Washington without injured C Nicklas Backstrom for Game 6
May 09, 2018 - 05:31
NOTES: Crosby's assist pushed his career playoff total to 185, tied with Hall of Famer Steve Yzerman for 10th most all-time. Washington went 1-1-1 against the Lightning in three regular season meetings, the last a 4-2 loss at home on February 20.

isis-killer-beheading-video-story-top Sri Lanka says in touch with Malaysia over detained boat people
May 09, 2018 - 05:30
The Ministry of Foreign Affairs said people smuggling and human trafficking was an "increasing concern" regionally and at home. Another five Malaysians were nabbed for suspected involvement in the smuggling syndicate.

isis-killer-beheading-video-story-top Arsenal's Koscielny set to be sidelined for six months
May 09, 2018 - 05:19
Wenger's 22-year-reign as Gunners boss is in its final week, with only two Premier League games at Leicester and Huddersfield left.