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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Iran Demands Repayment if Trump Squanders Boeing Deal

If Donald Trump’s administration terminates a deal between Iran and Boeing for the purchase of nearly eighty Boeing jets, then Iran says they want their money back. This includes “prepayments with interest” on the $16.6 billion-dollar deal.

Trump has openly criticized President Obama’s choice to lift sanctions on Iran so that the country better controls their nuclear program. This deal with Boeing was one of the first made after President Obama lifted the sanctions. The purchase of almost 200 jets from Boeing, and even Airbus, will help increase Iran’s air field which has fallen on hard times in recent years.

Iran’s Air Chief Executive, Farhad Parvaresh, told The Wall Street Journal, “Both sides are committed, and there are scenarios in the contracts for violation of commitments or in case of force majeure to deal with those cases.”

Boeing says the sale with Iran will help keep jobs in the U.S. and about 100,000 workers will be present. Boeing also hopes to close the deal with Iran before Trump’s inauguration and is expecting the initial payment of $226 million very soon.


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