US-based aircraft manufacturer Boeing has agreed to sell 100 aircraft to Iran Air, marking a significant turnaround in US-Iran relations.

The deal, thought to be worth $25 billion at list prices, will be one of the first made since economic sanctions were lifted against Tehran last year – and could be the largest business deal between the two countries since the 1979 revolution.

However, the the deal is still subject to regulatory approval by the US government, with the Boeing stating:

“Boeing will continue to follow the lead of the US government with regards to working with Iran’s airlines, and any and all contracts with Iran’s airlines will be contingent upon US government approval.”

22/06/2016