JCPOA Violation?! US President to Veto Bill to Block Iran Plane Sales

JCPOA Violation?! US President to Veto Bill to Block Iran Plane Sales
Tue Nov 15, 2016 12:13:17

The US administration says President Barack Obama is set to veto an upcoming legislation to block sales of passenger planes to Iran on grounds that it would a landmark nuclear agreement with the country sealed last year.

Reuters in a report quoted the White House as announcing that US partners view the legislation, if implemented, as a violation of the nuclear agreement.

The House of Representatives is expected to take up, and pass, the measure as soon as this week. However, it is not expected to get through the Senate, where it would need Democratic support to advance, Reuters added.

The measure would bar the Secretary of the Treasury from authorizing a transaction by a US financial institution related to the export, or re-export, of commercial aircraft to Iran. And it would revoke any authorities enacted before the bill passed, such as those that allowed the Boeing and Airbus sales, the report added.

It would also limit the role of Export-Import Bank financing of sales to Iran.

This is already viewed as the latest Republican-led effort to stop the sale of aircraft to Iran by Airbus and Boeing Co, allowed under the nuclear agreement with Iran.

Iran sealed a nuclear agreement with the P5+1 – the five permanent members of the Security Council plus Germany – last summer. Based on the agreement, Iran agreed to restrict certain aspects of its nuclear energy activities in return for measures by the P5+1 to remove a series of economic sanctions against the country.

Boeing received a Treasury license to sell 80 planes to Iran, under a memo signed in June. Yet, it is still negotiating with Iran for selling the planes to the country’s national airline Iran Air.

Boeing’s European rival Airbus also announced in September that it had received Treasury Department’s approval to sell planes to Iran.

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