BREAKING NEWS

Mnuchin: Boeing, Airbus licenses to sell to Iran will be revoked

By REUTERS, JPOST.COM STAFF

MAY 9, 2018 00:21

Updated: MAY 9, 2018 07:18

Speaking to reporters Tuesday night, US Treasury Secretary Steve Mnuchin said that manufacturing giants Boeing and Airbus will no long receive licenses to sell aircraft and components to Iran.

The Treasury Secretary added that he does not anticipate higher oil prices as a result of new sanctions.

US allies are willing to increase oil production to offset reductions in Iranian output after sanctions take effect, he said.

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