The longer Canada waits to lift sanctions against Iran the more Canadian companies lose a competitive edge to get back into that market.
Jan. 16 was implementation day for the Joint Comprehensive Plan of Action nuclear non-proliferation and sanctions reduction agreement reached by the P5+1 countries (U.S., United Kingdom, China, Russia, France, and Germany), the European Union, and the government of Iran in July 2015. Canada was not part of the agreement.
Watching closely are people like Daniel Desjardins, senior vice president and general counsel of Bombardier Inc., who says he is “optimistic and hopeful” the government will lift sanctions. Iran is said to be looking to buy 300 to 400 large civil aircraft in the next few years — which is of great interest to Bombardier and something the Americans didn’t want Boeing to be shut out of, nor Airbus in the EU.