Airplane manufacturers\u00a0Boeing\u00a0and\u00a0Airbus\u00a0will lose out on a $39bn deal due to new sanctions imposed as a result of US President\u00a0Donald Trump\u2019s the US would not participate in the\u00a0Iran nuclear agreement.\r\nLicenses for the companies to sell passenger jets to Iran are going to be revoked, US Treasury Secretary\u00a0Steve Mnuchin\u00a0said. Easing sanctions such as this was a major inducement get Tehran to sign the Joint Comprehensive Plan of Action (JCPOA) in 2015 under President\u00a0Barack Obama\u00a0and stem the growth of its nuclear weapons programme. However, Mr Trump said today that it was a \u201crotten deal\u201d and did not go far enough to ensure Iran\u2019s compliance.\r\nAs the\u00a0Washington Post\u00a0reported: \u201cThe aircraft\u00a0sales\u00a0were among the most-sought-after contracts for Iran\u201d.\r\nBoeing specifically had signed its deal for the commercial aircraft sale in December 2016, under the nuclear accord, and it was worth $17bn. The Airbus deal, signed the same month, was worth $19bn. The company also has a separate $3bn\u00a0deal with Iran\u2019s\u00a0Aseman\u00a0Airlines.\u00a0\r\n\u00a0IranAir had ordered 200 passenger aircraft - 100 from Airbus SE, 80 from\u00a0Boeing\u00a0and 20 from Franco-Italian turboprop maker ATR - and all were dependent on US licenses since more than 10 per cent parts and labour came from US companies like\u00a0United Technologies, Rockwell Collins and General Electric.\u00a0This means even European manufacturer Airbus will have to review its sales contracts as a result\r\nThe US Treasury Department, which controls the licensing of exports out of the US, said the sales of these aircraft have to end in 90 days on 6 August 2018. "Under the original deal, there were waivers for commercial aircraft, parts and services and the existing licenses will be revoked,\u201d Mr Mnuchin noted.\r\n\u201cThese are very very strong sanctions; they worked last time. That\u2019s why Iran came to the table,\u201d he said.\r\nAfter 6 August, the Treasury also said it would revoke a license that allowed US companies to negotiate business deals with Iran. The\u00a0Boeinglicense had been valid until September 2020, a person involved in the deal told Reuters.\r\nBoeing spokesman Gordon Johndroe said the company will \u201ccontinue to follow the US government\u2019s lead\u201d on the matter. It may be possible for the company to request a waiver but the Treasury Department has been unclear about which companies or what kind of waiver could be granted.\r\n"That's something we'll consider on a case-by-case basis, but as an overview, I would say that the purpose is to broadly enforce the sanctions," he said, adding that the administration's objective was to deny Iran access to the US financial system.