Economy, Business And Markets

US, Japanese Banks to Finance Boeing Deal

US, Japanese Banks to Finance Boeing Deal
US, Japanese Banks to Finance Boeing Deal

American aircraft maker Boeing and an American bank have reached an agreement to finance Boeing’s deal with Iran through a bank in Japan, an unnamed government official was quoted as saying  by Tasnim News Agency on Friday.

The report did not provide details on the huge funding agreement.

Last week, Boeing announced that it was making progress on a deal to provide more than 100 commercial aircraft to Iran, with a total estimated price of $17.6 billion, though none will be delivered in 2016.

On September 21, US Treasury Department Office of Foreign Assets Control allowed Boeing to sell more than 100 planes to the Islamic Republic.

The approval came for the first time in almost 40 years, paving the way for the biggest business transaction between the two nations since the 1979 Islamic Revolution.

Iran and the US do not have diplomatic ties for almost four decades and the latter has imposed stringent economic and banking restrictions on Tehran due to its nuclear energy prorgam and other disputes, namely human rights and missile development programs.

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