facebook
twitter
search
search

Boeing given license by U.S. to sell parts to Iran despite prior sanctions

The license is for a limited time and only covers replacement parts to ensure continued safe flight operations of older Boeing planes.
By JC Sevcik   |   April 7, 2014 at 5:57 PM
| License Photo

SEATTLE, April 7 (UPI) -- Airplane manufacturer Boeing has been granted license by the U.S. Department of the Treasury to sell parts for commercial airplanes to Iran, a business practice previously prohibited by a trade embargo and economic sanctions which ban the sale of aircrafts and parts to the country, according to NBC.

Tim Neale, a spokesperson for Boeing, told NBC the license is for a limited time as defined by the terms of an agreement Secretary of State John Kerry reached with Iran last year.

Iran signed an agreement in November promising to desist its nuclear activities for six months in exchange for relief from the economic sanctions imposed by Britain, China, France, Germany, Russia and the United States.

According to NBC, the license only covers the sale of replacement parts for older Boeing aircraft sold to Iran prior to 1979, to ensure their continued safe flight operations, and does not allow the sale of new aircraft.

[NBC]

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Topics: John Kerry
Latest Headlines
Top Stories
Putin reassures PM Alexis Tsipras after 'no' referendum vote in Greece
Duma approves construction of $4 billion bridge to Crimea
Starbucks hikes prices on popular coffee drinks
Donald Trump deletes retweet about Jeb Bush's wife
Shark bites Camp Lejeune Marine on North Carolina coast