More pressure seen on Airbus than Boeing from US Iran deal exit

Boeing, Airbus, GE among biggest losers from US Iran shift

The company had signed a deal to sell 100 jets, worth more than $20 billion, to Iran Air, the main state airline.

French Finance Minister Bruno Le Maire said on Europe-1 radio that Europe should not accept that the U.S.is the "world's economic policeman". "The existing licenses will be revoked". The company insists that they will follow the United States government's lead on the renewed sales ban.

"If at the end of this short period we conclude that we can fully benefit from the JCPOA with the cooperation of all countries, the deal would remain", Rouhani said. Airbus falls under US rules because its planes include USA -made components. Over 19.6 billion dollars 110 aircraft were to be purchased from Boeing. It's already spent $90 million to develop the field, and Iran's state oil company says it won't be compensated until production begins. "As we have throughout this process, we'll continue to follow the U.S. Government's lead".

French automaker PSA Peugeot Citroen reached an agreement previous year to sell cars in Iran and has reported sales increases in the country since resuming.

Plane-makers Boeing and Airbus are probably the highest-profile casualties of the reimposed sanctions, as they had been planning to start selling aircraft to the Islamic Republic for the first time.

Planemakers Airbus and Boeing, oil companies and vehicle manufacturers such as France's Renault and Peugeot could be among companies hardest hit.

The Treasury secretary said that the sanctions will also sharply curtail sales of oil by Iran, which is now the world's fifth-largest oil producer.

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One company hoping for a reprieve is the French oil giant Total, which a year ago signed a $2 billion contract to develop the South Pars natural gas field. It's also possible that nixing the deal pushes up oil prices, padding coffers in countries like Saudi Arabia, Qatar and Kuwait.

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.

Airbus didn't immediately respond to a request for comment. Benchmark U.S. crude gained $2, or 2.9 percent, to $71.06 a barrel in NY, the highest level since late 2014.

"The objective is to put and maintain maximum sanctions on Iran; that is the objective here".

European governments tried for months to persuade Trump to stick with the deal but failed, and now fear it will raise the risk of conflict in the region.

Information for this article was contributed by Martin Crutsinger, Jon Gambrell, Frank Jordans, Raf Casert and Matt Ott of The Associated Press and by Steven Mufson and Damian Paletta of The Washington Post.

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