Starting Iran’s Black Friday is well worth a Paris trip

On the occasion of his official visit to France scheduled on November 17, 2015, Iranian President Hassan Rouhani announced his country would “probably” purchase Airbus planes. While Iran is said to need around 400 units, that is a $43 billion opportunity, there’s a mood of optimism in Paris as for the “revival of bilateral cooperation with Iran” through the signature of agreements, one of which focuses on air transport.

Recently, French Foreign Minister Laurent Fabius asked the United States for “concrete” guarantees that it will not penalize European companies for trade in Iran after sanctions are lifted on Tehran in accordance with July 2015 Nuclear Deal.

The record penalty of $8.9 billion imposed by the US Department of Justice (DOJ) on French bank BNP Paribas for facilitating transactions with countries like Iran prompt French companies to remain cautious. Already in advanced talks with Iran, this is the signature of agreements at the top political level in Paris that should give the go-ahead for these companies to switch from talks to achievement.