Embraer expects US OK for Iran plane sales
Brazil's Embraer, the world's third largest maker of commercial planes, says it is hopeful to get the go-ahead from the US to sell planes to Iran.
Reuters quoted an unnamed Embraer spokesman as saying that the company expects the US Treasury Department to issue a license for it – like the one it issued for France’s aviation giant Airbus – to move ahead with a plan to sell at least 20 of its E-195 jets to the Islamic Republic.
The value of the deal is estimated to be over $1 billion.
Embraer still requires a US license for the sale to Iran of sensitive jet engine technology in its planes, Reuters reported.
On Tuesday, the US Treasury Department authorized France's Airbus to sell 106 commercial planes to Iran Air, Iran's flagship carrier.
A similar scheme with US aviation giant Boeing faces an uncertain fate after the US House of Representatives last week voted to kill its deal with Iran.
The prospects for Brazil to see an opening in post-sanctions trade with Iran appeared promising on Wednesday when the country announced that the US Treasury Department had given the go-ahead for its plans to do business with the Islamic Republic without fear of sanctions.
Rodrigo Azeredo, the head of the Trade Promotion Programs Division of Brazil’s Ministry of External Relations, was quoted by Reuters as saying that the US Treasury had opened the way to billions of dollars in potential exports of not only jet planes but also buses and equipment to Iran.
Azeredo emphasized that officials from the US Treasury had explained to executives of Brazil's largest banks in Sao Paulo last week that they can deal with Iranian banks as long as the transactions - in dollars or any other currency - do not go through the US banking system and do not involve blacklisted Iranian companies.
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