Airbus and Boeing have gained clearance from US authorities for multibillion-dollar aircraft deals with Iran — marking a significant milestone in the Middle Eastern country’s return to the international marketplace since certain sanctions were lifted in January.

The US green light for Airbus’s sale of 17 single- and twin-aisle aircraft and Boeing’s deal to sell 80 passenger jets to Iran Air offers proof that it is now possible to trade with the country without breaching complex rules that still prohibit the involvement of US entities or finance providers in trade deals.

Airbus’s agreement, which will be denominated in euros to avoid breaching these rules, is believed to be first significant trade deal to be approved by the US Office of Foreign Assets Control. Approval of the Boeing sales came just hours after that for Airbus.

Airbus and Tehran reached a provisional agreement on the sale of 118 aircraft, worth an estimated $25bn at list prices, just days after sanctions were lifted at the start of the year. An accord, which must still be finalised, was signed in Paris in the presence of France’s President François Hollande and President Hassan Rouhani of Iran.