screwball

http://financialtribune.com/articles/economy-domestic-economy/50262/iran-australia-air-services-talks-underway australia jumping onboard....

Airbus says the US government has granted it a license allowing it to sell the first 17 planes involved in a landmark deal with Iran. Airbus Spokesman Justin Dubon told AP on Wednesday that Airbus received the license from the US Treasury’s Office of Foreign Assets Control. Dubon said the first 17 planes will be A320s and A330s. He declined to offer a breakdown of how many of each are involved in the initial sale. Earlier this year, Iran Air signed agreements to buy 118 planes from the European consortium Airbus, estimated to be worth some €22.8 billion ($25 billion). The deal was made possible by last year’s historic nuclear agreement that lifted sanctions on Iran in return for it limiting the scope of its nuclear program. On Monday, Iran’s deputy minister of roads and urban development, Asghar Fakhriyeh Kashan, announced that Iran has reduced the number of airplanes it plans to buy from Airbus by six amid delays in US regulatory approvals. “There are six fewer aircraft. These are the ones that were due to be delivered in 2016,” he said on the sidelines of the CAPA Iran Aviation Finance Summit in Tehran, adding that the country may knock one plane off a similar deal for more than 100 with Boeing. Speaking at the CAPA conference, western envoys sought to allay Iranian concerns over the delays in approving the airplane deals. They expressed optimism the deals would go ahead and reiterated their commitment to last year’s nuclear deal. The US go-ahead for Airbus to sell planes to Iran is expected to be shortly followed by the same move for the French planemakers American rival Boeing. Boeing’s chief executive, Dennis A. Muilenburg, speaking at the Farnborough International Airshow in Britain in July, said if his company could not sell planes to Iran Air then “nobody should”. Speaking on the first day of the two-day summit on Sunday, Fakhriyeh said Iran has been told that the United States will issue export licenses within weeks to facilitate the purchase of Boeing and Airbus jets and European ATR turboprop planes. Approval had been expected by the end of August, but that has been pushed back to the end of September, Reuters quoted Fakhrieh as saying. “Today we are expecting that (approval) by the end of September for Boeing, Airbus and ATR,” he said, adding that failure to issue the required US approval would breach an agreement between Tehran and world powers to ease sanctions in return for curbs on Iran’s nuclear activities. The House of Representatives in July passed two amendments that would stop the aircraft sales to Iran, including non-US ones, due to the high proportion of US parts. Iran estimates it will need at least 400 aircraft to renew and expand its fleet, including some 250 in the next 10 years. Besides the aircraft sales, Iran is dangling the prospect of significant business for western companies, including nationwide airport expansion as it emerges from decades of sanctions. “There are more than 60 airports in Iran but 80% of flights are in just 10 and these are working beyond capacity; that is why we need to develop,” Akhoundi said. someone who can't report for ****! Clearly American reports contradict this article..

Now they need to move to single forex rate swiftly...come on baby! Dubai here I come!

TEHRAN — The United States on Wednesday removed a final hurdle for Western aircraft manufacturers to sell planes to Iran, a country desperately in need of hundreds of new aircraft. The Treasury Department granted the aviation giants Airbusand Boeing licenses to deliver planes to Tehran. The decision is a boon not only for the two companies but also for Iranian politicians who want to expand Iran’s engagement with the world now that sanctions linked to Iran’s nuclear program have been lifted. A spokesman for Boeing said the license covered the sale of 80 planes to Iran’s national carrier, Iran Air. Airbus confirmed that it received a license for an initial sale of 17 planes, part of a larger deal that involves a total of 118 planes. The green light for aircraft sales allows Iran, a country of 80 million, to start rebuilding its aging fleet of Boeing and Airbus planes and other secondhand aircraft purchased clandestinely from other countries. Over the past four decades, hundreds of Iranians have died in crashes caused by malfunctioning or poorly maintained aircraft. “From today, we will have safe planes,” President Hassan Rouhani of Iran promised in January when the accord between Iran and six world powers, including the United States, became fully operational. Under that deal, Iran has given up parts of its nuclear programin exchange for sanctions relief. Since then the country has managed to increase its oil sales, but it has not been able to sign major deals with Western companies because of continuing banking restrictions related to non-nuclear sanctions. While the United States has relaxed many of its sanctions against Iran, Washington still demands that even non-American manufacturers wishing to sell to Iran obtain an export license if their products include materials made in the United States. Airbus, based in Europe, buys more than 40 percent of all its aircraft parts in the United States. The granting of the licenses is likely to draw protests from some members of Congress, who have noted that Iranian commercial aircraft have been used to transport troops and weapons into Syria. Representative Peter Roskam, Republican of Illinois, said in a statement that the Obama administration “has once again made a political decision to appease Iran at the expense of our national security.” He said Congress was committed to making the process of delivering the planes as difficult and expensive as possible. Western political analysts who specialize in Iran said the Treasury’s decision reflected an effort by the Obama administration to help Mr. Rouhani, who staked much of his political reputation on promised economic dividends from the termination of nuclear sanctions. “The U.S. is interested in constructive engagement with Iran, despite continuing turmoil in the bilateral relationship,” said Cliff Kupchan, the chairman of the Eurasia Group, a Washington-based political consultancy. He called the license approvals “a big win for President Rouhani, who needs to show Iranians that the nuclear deal is bringing concrete improvements to their lives.” Iran had called for a meeting on the sidelines of the United Nations General Assembly with representatives of the world powers that signed the nuclear agreement — Russia, China, Germany, France, Britain and the United States — to complain about the lack of progress in carrying out the terms of the deal. “This is very good news for President Rouhani,” said Nader Karimi Joni, an analyst who supports the government. “He needed this news back home. Bringing Airbus will fend off critics and make him popular.” Some in Iran, however, objected to what they said was political maneuvering in the timing of the Treasury Department’s decision to grant the licenses. “This is a bribe by the Americans to increase the chances of President Rouhani to be re-elected,” said Hamidreza Taraghi, a conservative analyst and political figure. “The American president, in his last months in the White House, wants to give as much support as possible to Rouhani’s government and his pro-Western faction.” Mr. Rouhani is scheduled to address the General Assembly on Thursday. According to the Treasury Department, the licenses contain strict conditions to ensure that the planes will be used exclusively for commercial passenger use, and cannot be resold or transferred to another entity. A Boeing spokesman said the company was hoping to sell 46 single-aisle 737s; 30 wide-body 777s and four 747s. Justin Dubon, an Airbus spokesman in Toulouse, France, confirmed that the plane maker had obtained an initial license from the Treasury to sell 17 planes to Iran — part of a landmark, multibillion-dollar order announced in January for 118 Airbus aircraft, ranging from smaller single-aisle jets to several 555-seat A380 “superjumbo” wide-body aircraft. It remains unclear how Iran is planning to pay for the aircraft. After years of sanctions and low oil prices, the state’s coffers are empty. International credit continues to be virtually unavailable, with large banks shying away from dealing with Iran because of complicated regulations and continuing unilateral American sanctions against the country, designated a “state sponsor of terrorism” by the United States. The news that the final barrier to the aircraft sales had fallen was applauded by an Iranian pilot revered for the kind of heroic action for which Capt. Chesley B. Sullenberger III became famous. “This is a moment for happiness,” said the pilot, Houshang Shahbazi. “This is good for people. This is wonderful. Basically it means safer air travel for Iranian passengers.” In 2011, Captain Shahbazi saved 120 passengers on a flight from Moscow to Tehran when the landing gear of the 40-year-old Boeing 727 he was piloting jammed. Captain Shahbazi deftly manipulated the brakes to balance and slow the plane, then tipping its nose down for a miraculous controlled crash landing. The landing, captured on video, became a symbol of the consequences of nearly four decades of American sanctions against Iran’s airline industry. As a result of the sanctions, Iran was left with a ragtag fleet of old planes, bought during the era of the pro-Western government in Iran, and secondhand workhorses purchased from countries like Ukraine. The 17 new Airbus planes are only a first step, Captain Shahbazi emphasized. “In total, we need around 500 planes, nationwide new airport infrastructure and updates,” he said. “But I’m overjoyed with this news.”

Done deal it looks like!

Dubai, United Arab Emirates (AP) -- The U.S. government granted aviation giants Airbus and Boeing permission on Wednesday to sell aircraft to Iran following last year's nuclear accord. European airplane manufacturer Airbus announced the license from the U.S. Treasury's Office of Foreign Assets Control early Wednesday. Chicago-based Boeing followed with its own announcement later in the day. The approval clears the way for the two plane manufacturers to access one of the last untapped aviation markets in the world. Both companies have announced separate $25-billion deals to sell aircraft to airlines in the country, although analysts are skeptical that there is demand for so many jets or available financing. The deal would be the biggest for an American company since the 1979 Islamic Revolution and U.S. Embassy takeover. The announcements come as Iranian and U.S. leaders are in New York for the United Nations General Assembly and shows that the outgoing administration of President Barack Obama is honoring the economic terms of the nuclear pact. Though based abroad, Airbus needed the approval of the U.S. Treasury's Office of Foreign Assets Control for the deal because at least 10 percent of the manufacturer's components are of American origin. Airbus applied for two licenses to cover its deal with Iran to ensure the fast delivery of some of the aircraft, Airbus spokesman Justin Dubon told The Associated Press. The license announced Wednesday covers the first 17 planes involved in the deal, which will be A320s and A330s, he said. Dubon said Airbus hoped to receive a second license allowing it to sell the remaining planes to Iran soon. Iran's U.N. mission did not respond to a request for comment Wednesday. State television referred to an AP report on the sale. Iran's nuclear deal with world powers, which limits its enrichment of uranium in exchange for the lifting of some international sanctions, specifically allowed for the purchase of aircraft and parts. That's set off a race between airplane manufacturers for the newly opened market, home to 80 million people. In January, national carrier Iran Air signed agreements to buy 118 planes from Airbus, estimated to be worth some 22.8 billion euros ($25 billion). On Sunday, state TV reported that Asghar Fakhrieh Kashan, a deputy transportation minister, said Iran would cut the number of Airbus planes to 112. Base model A320s are listed at an average of $98 million, while A330s start at $231.5 million. That puts the value of the approved 17 aircraft in the first license around at least $1.8 billion and possibly much higher based on list prices, though buyers typically negotiate sizable discounts for bulk orders. Under Boeing's deal, Iran Air will buy 80 aircraft with a total list price of $17.6 billion, with deliveries beginning in 2017 and running until 2025. Iran Air also will lease 29 new Boeing 737s. In a statement, Boeing spokesman Marc Sklar said "we have received that license and remain in talks with Iran Air" based on the memorandum of agreement reach in June. The Boeing deal has been criticized by American lawmakers over Iran's "pernicious behavior," including launching ballistic missiles, firing rockets near U.S. warships in the strategic Strait of Hormuz and briefly detaining American sailors who strayed into its territorial waters. The U.S. presidential election could also have an effect on the sales. Republican presidential candidate Donald Trump has threatened to tear up the nuclear deal if elected this November. Most Iranian planes were purchased before the Islamic Revolution that ousted Shah Mohammad Reza Pahlavi and brought Islamists to power. Out of Iran's 250 commercial planes, 162 were flying in June, while the rest were grounded due to lack of spare parts. Iran Air, whose website lists 43 airplanes in its fleet, says it has direct flights to over 30 international destinations, including London.

Airbus announced Wednesday that the U.S. government approved its first sale of 17 planes to Iran after last year's nuclear agreement eased a decades-long economic embargo. Airbus received a license from the U.S. Treasury Department’s Office of Foreign Assets Control, Airbus spokesman Mary Anne Greczyn said. “In a country of nearly 80 million people, it is accepted by the industry that there is a market need for some 400 to 500 new commercial planes to replace Iran’s existing, aging fleet and meet growing travel demand,” she told USA TODAY. “Airbus has been working with the relevant authorities for some time to ensure all activities are undertaken in full compliance with applicable laws and regulations.” Boeing, a Chicago-based manufacturer, has also received a license to sell 80 planes to Iran, the company told USA TODAY in a statement Wednesday. But talks continue about actually selling the planes to the national airline Iran Air, as outlined in a memorandum of agreement signed in June to provide up to $25 billion in aircraft. "Any final sales agreement would have to adhere to the license we’ve been issued," Boeing said in the statement. The Airbus planes from the manufacturer based in France will be a combination of A320 and A330 aircraft, another Airbus spokesman, Justin Dubon, said. The A320s list for $98 million each, and the A330-200s start at $231 million, but manufacturers often discount those prices. A second license for more planes is expected to be granted in the coming weeks, Dubon said. Airbus has an agreement to sell Iran more than 100 planes. Although Airbus is based in Europe, it still needed to get approval from the U.S. Treasury Department because at least 10% of Airbus components are of American origin, according to the Associated Press. The aircraft deal followed the agreement last year between the world powers and Iran, which lifted sanctions in exchange for the country curbing its nuclear facilities and allowed the purchase of aircraft and parts. The sanctions followed the 1979 Islamic revolution in Iran, which took over the U.S. Embassy in Tehran. In a June letter to Congress, Boeing described its agreement to sell Iran Air 80 planes, with deliveries beginning in 2017 and running until 2025. The models comprise six 737NG, 40 737 MAX, 15 777-300ER, 15 777-9X and four 747-8i aircraft. In addition, the agreement expressed Boeing's intent to help Iran Air find an additional 29 new 737NG aircraft from leasing companies, bring the total plans involved in the deal to 109. Boeing's license came after Airbus's because the department completed them in the order received, and Airbus filed first. The House of Representatives voted in July to block aircraft sales by both Airbus and Boeing to Iran, but the Senate has not yet acted. The legislation sought to block the Treasury Department from licensing the sales and to prevent loans from U.S. institutions to finance the deals.

My ladies........very interesting informative and right on with supporting evidence!nwhy isn't My Ladies on this forum? Or is he/she?

http://money.cnn.com/2016/09/21/news/airbus-iran-planes-us/index.html Cleared for takeoff! Boeing and Airbus have been given the green light by the U.S. government to sell planes to Iran despite fierce political opposition to the deal. The Treasury Department has approved the delivery of more than 100 Boeing (BA) aircraft and 17 Airbus passenger planes, marking a key step for Iran's foreign business dealings now that its economic sanctions are lifted. Boeing (BA) is a U.S. company headquartered in Chicago. Airbus (EADSF), a European consortium, needed U.S. government approval to sell aircraft to Iran because many parts are made in the U.S. and the American authorities want to ensure the country doesn't use the planes for military purposes. Treasury said in a statement Wednesday that the licenses "contain strict conditions to ensure that the planes will be used exclusively for commercial passenger use and cannot be resold or transferred." The Treasury's decision means Boeing has permission to deliver 80 jetliners that Iran agreed to buy in June. The license also covers 29 Boeing aircraft the company will "help Iran Air find" from leasing companies, the manufacturer said. Airbus signed a deal in January, agreeing to provide 118 planes to Iran for about $26 billion. This is among its biggest ever sales, and includes 12 A380 super jumbo jets. Airbus expects the U.S. government to approve the sale of the remaining 101 planes in the next few weeks, Airbus spokesperson Justin Dubon told CNNMoney. Iran is working to modernize a fleet that is among the oldest and most dangerous in the world. Years of sanctions left Iran's airlines with outdated and unsafe aircraft. The sanctions were lifted after Iran agreed to curtail its nuclear program. Related: Airbus faces criminal corruption probe in Britain Many sanctions against Iran still remain. For example, the U.S. continues to block companies from doing business with Iran in U.S. dollars. This has complicated the financing of these huge plane contracts, since many banks are concerned about working with Iran. Several big banks, including HSBC (HSBC) and BNP Paribas, (BNPQF) were fined billions of dollars for dealing with Iran while more extensive U.S. sanctions were in place. Airbus said it believed financing wouldn't be a problem. "There are institutions out there that could do it," said Dubon. "There is liquidity in the market and there are several avenues [we can pursue]. Even if there's reticence by some banks." U.S. approval could provide welcome relief for the struggling A380 super jumbo, which cost Airbus $25 billion to develop. Sales have been disappointing and the company recently slashed its production outlook for the plane due to a lack of customers.

News ID:169058 Publish Date: Wed, 21 Sep 2016 20:32:54 GMT Service: Iran Airbus says granted US license to sell planes to Iran Airbus says it has obtained an initial license from the United States to supply passenger jets to Iran as part of a 25-billion-dollar deal between the aircraft manufacturer and the Islamic Republic signed in January. Airbus spokesman, Justin Dubon, told The Associated Press on Wednesday that the company received the license from the US Treasury's Office of Foreign Assets Control for the early delivery of 17 A320 or A330 jets to Iran. He also noted that Airbus hoped to receive a second license allowing it to export the remaining aircraft to Iran within the next few weeks. Back in January, Tehran signed a major contract with Airbus to buy 118 planes. The accord was inked during Iranian President Hassan Rouhani's visit to Paris. However, Iran’s Deputy Minister of Road and Urban Development Asghar Fakhrieh Kashan said earlier this week the country had cut the number of planes to be purchased to 112. The deal was made possible by last year’s nuclear agreement between Tehran and the P5+1 group of countries, including Russia, China, France, Britain, the US and Germany. The July 2015 nuclear accord, known as the Joint Comprehensive Plan of Action (JCPOA), took effect in January. It ended decades of economic sanctions against Iran in exchange for restrictions on its nuclear program. However, months into the JCPOA's implementation, Iran says that the promised economic benefits have yet to materialize, and that it still does not have access to global financial markets. Wednesday’s announcement by Airbus will be closely watched by Chicago-based Boeing Co., which also inked a memorandum of agreement with Iran in June. The deal involves Iran purchasing 80 planes and leasing another 29. Aviation sources said the US Treasury was expected within "days" to begin unblocking Boeing's deal to sell or lease the 109 jets to Iran. KeyWords Airbus US Iran Related News : Iran says Airbus deal awaiting US seal Iran to sue US if it blocks new Airbuses Iran's Rouhani calls for end to hostility with any country

JCPOA parties hold 5th Joint Commission in New York Politics September 21, 2016 TEHRAN – Deputy foreign ministers of six world powers and Iran were to convene at New York on Wednesday afternoon for a brainstorming session on the quality of the implementation of the nuclear deal they came up with in July 2015 with Tehran insisting that it is not reaping economic gains as calculated. It is the fifth time in nearly 14 months after the conclusion of the deal that the signing countries are coming together, this time on the sidelines of the 71st United Nations General Assembly. Under the JCPOA, a Joint Commission of the seven signing countries monitors the implementation of the deal to address issues arising from the enforcement of the pact. High on the agenda of the fifth commission will be the banking dilemma, which Tehran cites as a major obstacle to the realization of what it expected from the landmark deal. EU Foreign Policy deputy chief Helga Schmid, and Iranian deputy foreign ministers Aabbas Araqchi and Majid takhtravanchi co-presided over the session. International banks, particularly the European ones, have shown no enthusiasm for re-engaging their Iranian counterparts, citing possible fines by the U.S. The two sides have agreed to refer complaints to the Joint Commission for resolution if either side believes the other side has fallen short of meeting its commitments under the deal. Ali Akbar Salehi, head of Iran’s Atomic Energy Organization, had attacked, in a recent interview with the Guardian, lack of progress on banking transactions and trade months on since Implementation Day (January 16). “As has been stated by the International Atomic Energy Agency (IAEA), Iran has remained committed to its commitments,” Salehi said. “While the other side – it’s very clear now to public opinion and it’s not a secret – has not really delivered on the promises; that the sanctions would be removed and that banking transactions would go back to normal, that trade would speed up and economic relations would be enhanced. These have not been materialized to the extent that we expected.” In a similar vein, on the sidelines of the Euromoney Iran Conference in London in May, Iran’s central bank governor Valliollah Seif said, “Some movement and Western officials have made some positive pronouncements, but banks need tangible reassurances that they would be immune from baseless allegations [of sanctions breaches].” Iran says it is up to the Western side to soothe banking concerns voiced by international banks. The banking issue, a major sticking point, has prevented a $50-billion deal to go through between Iran and Airbus and Boeing, awaiting the green light from the U.S. Treasury's Office of Foreign Assets Control (OFAC). In addition to the deputy level meeting, foreign ministers of the seven countries will hold a session on Thursday to review and assess progress and to make appropriate decisions by consensus just in case. According to the JCPOA, a ministerial level meeting will be held every 2 years for assessment purposes. AK/PA

U.S. begins unblocking jetliner sales to Iran Economy September 21, 2016 The United States has started issuing licenses unblocking the sale of Western passenger jets to Iran, aviation sources said. The U.S. Treasury has issued licenses allowing the export of some European Airbus jets to Iran and is expected to start approving sales of Boeing jets within days, the sources said. A spokesman for Airbus confirmed it had received a U.S. license covering a total of 17 aircraft slated for early delivery. Although based in Europe, Airbus needs U.S. approval because of the high number of U.S. parts in its jets. Both planemakers have agreed to sell or lease more than 100 aircraft each to flag carrier IranAir as Iran rebuilds its aviation sector following last year's agreement between Tehran and major powers over the lifting of nuclear-related sanctions. (Source: Reuters)

http://en.mehrnews.com/news/119900/News-on-Boeing-737-purchase-rejected this is why we wait on news out of New York!

This meetings in New York and subsequent news posts will shed so much more light! I expect all deals to be done!

Goes hand in hand with the article FW posted Banks will expand their online foreign currency exchange services to more than 40 different currencies, starting from October. According to the Financial Supervisory Service on Wednesday, the financial wachdog will work together with the lenders to increase the variety of foreign currencies available for online exchange and pick-up at the Incheon International Airport. Currencies that are considered rare to get here, including the Vietnamese dong, Indonesian rupiah, Malaysian ringgit and Russian ruble, will be available at the airport, the FSS said. Currently, the number of currencies allowed for online application for exchange and pick-up at the airport is fewer than 20. Shinhan Bank’s airport branch offers 19, and Woori Bank 13. Shinhan plans to expand the currencies to 44. Woori plans on 43. “Not only at the airport, but also at ordinary bank branches, the number of exchangeable currencies based on online application will be gradually expanded,” said Ryu Tae-sung, director general at the FSS. Identity verification procedures will be waived for customers who apply for exchange of foreign currencies worth less than 1 million won on the banks’ homepages, the FSS said. The Korea Federation of Banks will establish a foreign exchange rate comparison page on its homepage early next year to help consumers check currency types available for exchange at each bank and discount benefits at once. “Amid the rising number of overseas travelers and growing financial transactions with foreign countries, the demand for a variety of currencies has been high,” Ryu said. “But it has been difficult and inconvenient for consumers to compare discount benefits offered by each bank.”The watchdog will also have all major four banks -- Shinhan Bank, Woori Bank, Kookmin Bank, KEB Hana Bank -- accept coins of six currencies -- US dollar, Japanese yen, French franc, Canadian dollar, Hong Kong dollar -- that are leftover from traveling and exchange them into the equivalent value of the domestic currency, starting from October. At the moment, KEB Hana Bank is the single institution accepting the leftover coins, causing complaints from consumers, the FSS said. By Song Su-hyun (song@heraldcorp.com)

Not sure if I posted this! Published : 2016-08-26 21:45 Updated : 2016-08-26 21:46 TEHRAN (AFP) -- Iran and South Korea are to start trading in euros, legally circumventing US sanctions on dollar transactions with Tehran, a senior official announced Friday. After months of talks with Washington, at the urging of Iran, Seoul will "with US approval... convert South Korean won to euros without any direct intervention of dollars", Deputy Foreign Minister Hamid Baedinejad said on his Instagram page. If other countries with "local and limited currencies" also traded in euros, it would "lead to easier commerce between Iranian traders and businesses and those countries", he added. A landmark deal between Tehran and world powers, signed in July last year and which came into force in January, saw many international sanctions on Iran lifted in exchange for curbs to its nuclear programme. But non-nuclear-related sanctions have remained in place, preventing Iranian banks and businesses from carrying out global financial transactions in dollars. Trade between Iran and South Korea in euros will begin on August 29, Baedinejad quoted South Korean Finance Minister Yoo Il-Ho as saying. KEB Hana Bank, Shinhan Bank and Woori Bank, which in May became the first South Korean lender to open an office in Iran, will support the transactions, he added. Tehran and Seoul, which buys Iranian oil, agreed to triple their annual trade volume to $18 billion in May when South Korean President Park Geun-Hye visited Iran.

this will be interesting!

Iran is pressing the United States to ease banking obstacles to the reopening of trade under last year’s nuclear deal and hopes for progress on the sidelines of United Nations meetings in New York this week, an Iranian official said as reported by Reuters. The country’s national airline has provisionally agreed to buy US and European aircraft worth over $50 billion at list prices, marking a high-profile test case for the reopening of its economy under a deal with world powers to ease sanctions. Nine months after the sanctions deal took effect, foreign banks are reluctant to get involved because of concerns that they could be caught up in restrictions applying to US banks, which are still banned from doing business with Iran. Under the deal to lift nuclear-related sanctions, Iran can buy passenger planes and other goods but is not allowed to pay for them in dollars or to use the US financial system, due to core US sanctions that remain in force. The ban on paying in dollars is a particular headache for Boeing and international leasing companies, which usually account for their portfolios in the world’s leading currency. Paying in other hard currencies could generate fleeting movements in the US financial system known as U-Turn transactions, which are also banned. “We are negotiating and I hope that during the trip of President (Hassan) Rouhani to the US, we can have some news on the subject,” Deputy Roads and Urban Development Minister Asghar Fakhrieh Kashan told foreign investors at the CAPA Iran Aviation Finance Summit in Tehran. Iran Air chief Farhad Parvaresh is traveling to New York as part of Rouhani’s delegation for the UN General Assembly. The United States has said it has no plans to reinstate “U-turn” authorization, which would allow foreign banks to use its financial system to transfer funds for some Iran-related trade. Iran wants to pay Boeing in dollars but failing such an agreement - which many observers consider unlikely - it wants the US Treasury’s Office of Foreign Assets Control (OFAC) to approve the financing as part of a separate process under which it must also grant licenses before jets can be exported to Iran. Industry sources say Boeing is talking to third-parties about handling the transactions and paying it in dollars, but is unlikely to proceed without clear guidance from Washington. http://financialtribune.com/articles/economy-business-and-markets/50167/tehran-expects-progress-easing-banking-restrictions

Hopefully sometime early october!

http://www.iran-daily.com/News/169002.html

Explain this one! http://www.iran-daily.com/News/168971.html

http://financialtribune.com/articles/economy-domestic-economy/50162/tehran-returns-business-destination

“Unpicking years of sanctions is a complex task, complicated further in Washington by the fact that US primary sanctions remain in effect,” French Ambassador to Iran Francois Senemaud said. One person familiar with the process said the US Treasury was moving ahead in its discussions and a license decision, initially on the Airbus side of the deal, could come in weeks. airbus side? Euro? Boeing side? Usd?

http://financialtribune.com/articles/economy-domestic-economy/50159/iran-trims-airbus-deal-amid-us-regulatory-delays

Finger crossed, legs crossed and anything else that can be crossed is!