Broken agreements on the supply to Iran of Boeing and Airbus planes

Trump's entire Iran deal announcement

Trump's entire Iran deal announcement

"The existing licenses will be revoked".

Unfortunately, many European companies that were willing to do business with Iran also have facilities in the US, making it impossible for them to ignore America's laws.

In December 2016, Airbus signed a deal to supply national carrier Iran Air with 100 airplanes for about $19 billion at list prices.

He said Boeing had no Iranian deliveries scheduled this year and they had been deferred in line with U.S. government process.

Currently, Boeing has two deals with airline companies in Iran - Iran Air and Aseman Airlines - to deliver 80 and 30 planes respectively to rejuvenate their aging fleets. No deliveries have been made yet.

"We will consult with the United States government on next steps". "As we have throughout this process, we'll continue to follow the US Government's lead".

Lockheed shares were up 0.5% in premarket trading on the stock market today, after closing up 2% Tuesday. The European planemaker is subject to USA export restrictions to Iran because more than 10 percent of the parts on its jets originate with US companies such as United Technologies Corp., Rockwell Collins Inc. and General Electric Co.

Mnuchin also said the Trump administration would cancel waivers that allowed the sale of commercial aircraft parts and services.

Treasury Secretary Steve Mnuchin acknowledged the strength of the sanctions in a statement to the Post this week, adding that the measures affected several major industries. "They are very strong sanctions", Mnuchin said.

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And Western energy companies had resumed weighing possible investments in Iran's large but antiquated fuel industries - even as the hope of improved trade pushed the price of oil so low that the economy of Iran, as in Russia, Venezuela, and other petroleum exporting countries whose policies are also at odds with the USA, stalled from the decline in energy-sales income.

He said there might be some exclusions, but he did not elaborate.

French oil giant Total is at risk of losing a contract to help develop Iran's South Pars gas field following the USA move.

Scrapping the Iran deal may end up boosting Boeing, analysts said, as tensions in the Middle East inflate demand for the fighter jets, attack helicopters, bombs and missiles that Boeing produces.

The company has nonetheless announced that it would consult with the USA government over its Iran plane sales plans.

France, which has had close business ties with Iran since before the fall of the Shah in 1979, has sought to deepen trade ties since sanctions against Iran were lifted in 2016. The State Department will allow purchases by other countries if they show that they are making "significant reductions" over a 180-day period.

It now leaves a gapping hole in the deal - a signature foreign policy achievement of the Obama administration - as Trump officials move toward reimposing economic sanctions.

Moreover, the new U.S. ambassador to Berlin warned German companies to halt activities in Iran. Richard Grenell, the recently appointed US ambassador to Germany, said on Twitter that "German companies doing business in Iran should wind down operations immediately". It's also possible that nixing the deal pushes up oil prices, padding coffers in countries like Saudi Arabia, Qatar and Kuwait.

The uptick wasn't just limited to weapons manufacturers as oil rose more than three percent to hit its highest level since 2014.

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