Following the historical nuclear agreement between Iran and the United States, sanctions that had been placed on Iran look like they’re easing up. In the last six months, many bans and sanctions have been lifted, allowing Iran to once again join the world market.
Formerly a country on the forefront of modernization in terms of technology, politics, and culture, Iran had fallen behind during the sanction regime. Now, the country is looking to get back on its feet, and back to its former glory.
Due to the sanctions, Iran has a woefully inadequate civil aviation industry. Already having settled a 27 billion dollar deal with the European company Airbus, and adding 118 aircrafts to its fleet, the country is looking to bolster its civil fleet by purchasing jets in a multi-billion dollar deal with American aircraft manufacturer Boeing.
Iran is seeking 400 aircrafts, including the ones already obtained through Airbus, to fully modernize its fleet and have a thriving civil aviation industry again.
The deal will be announced shortly, according to Iranian media sources, by Iran’s minister of roads and urban development, Abbas Akhoundi. The deal is not set in stone, however, as there are certain factors that may derail it.
The Boeing-Iran deal could be historic
The Boeing deal, if it goes through will be historic for several reasons. Firstly, if the deal goes through, it will be the first time since the Islamic Revolution in 1979 that an American civil aircraft would be flying over Iran.
Secondly, the deal, if it were to go through, would be the biggest deal in terms of monetary value that Iran will participate in after the lifting of the sanctions around six months ago. Both the Iranian government and Boeing officials remain closemouthed about the deal, cognizant of its many pitfalls.
Ban on the use of dollars in trade, and Republicans, may derail the deal
Of the different problems that this deal could be faced with, perhaps the most significant issue is that sanctions still ban the use of dollars in trade in any deal that Iran might engineer. Without the access to this valuable currency, negotiations with an American company can become very difficult to pull off easily.
More opposition can also be expected from those who opposed the nuclear agreement that prompted the lifting of the sanctions in the first place—Republican lawmakers and other conservatives in power might choose to steamroll this deal.