Iranian media agency FARS reported that country’s government has reached an agreement with Boeing to purchase over 100 new airplanes for several billion dollars.

Abbas Akhoundi, the Iranian Minister of Roads and Urban Development, said that the agreement would be announced in the coming days. "We have reached a deal with the global aviation giant Boeing over the purchase of new planes that could set a new milestone in the country’s efforts to revamp its aging air fleet"

A spokesman from Boeing has confirmed in an email to Reuters, that the plane manufacturer has been discussing potential sales of commercial aircraft but could not discuss any details of negotiations per company’s practice.

Any agreements reached will be contingent on U.S. government approval, but there are still numerous obstacles in the way of the contract, one of them being a ban to use dollars in transactions with Iran.

Iran has mane final touches on an agreement to buy over 100 new  passenger planes from Airbus within four years.  

The aircraft fleet in the Islamic Republic consists of about 140 aircraft and is considered of the oldest in the world. After sanctions were lifted, Iran has been seeking to refresh its fleet by adding new aircraft, the first step was a provisional deal with Airbus to purchase 118 planes for about US$27 billion in January.