19-Sep-2016 1:37 PM

Iran expecting licence from US Treasury Dept to acquire aircraft from manufacturers by end-Sep-2016

Iran Deputy Minister of Roads & Urban Development Asghar Fakhrieh Kashan, at the CAPA Iran Aviation Finance Summit, reported (18-Sep-2016) that Iran has applied for US Treasury Department's Office of Foreign Assets Control (OFAC) licences to acquire aircraft from aircraft manufacturers. So far this has not been issued, for either US or European manufacturers. The licence is expected by the end of Sep-2016, having been delayed from the end of Aug-2016. There are "obstacles in the United States" particularly in the Congress according to Mr Kashan. From a political point of view, Iran has been give full confidence that the licences will be awarded. From a technical point of view, the awarding of OFAC licences to Iran is a laborious and time consuming process.

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