Press TV- Brazil�s regional jet maker Embraer says it is still waiting for an approval by the US Treasury Department for sales of aircraft to Iran.

The company was quoted by the media as saying that it remained �active and optimistic� with regards to its plans to sell planes to the Islamic Republic.

It added that providing the required funds for the planned sales to Iran was not so much the issue as gaining licenses from the Office of Foreign Assets Control (OFAC) of the US Treasury, the Aviation Week news website reported.

Iran in February 2016 confirmed that it had ordered 50 planes from Brazil's Embraer, the world's third biggest commercial aircraft manufacturer.

The confirmation was made by Mohammad Bagher Nobakht, the country�s government spokesman who emphasized that the deal with Embraer will be a hire purchase contract.

Reports later said the Brazilian company was considering a plan to sell its E-195 jets to Iran through a deal which would be worth above $1 billion.

The company requires an OFAC license for the sale to Iran of sensitive jet engine technology in its planes.

Sales of Embraer planes to Iran featured in trade talks between the Islamic Republic and Brazil during a visit to Tehran by Trade Minister Armando Monteiro.

Two major Iranian carriers � ATA and Kish Air � have already announced plans to purchase planes from the Brazilian company.

Apart from selling planes, Minister Monteiro also discussed potential sales of taxis, buses and trucks with Iranian officials during his visit to Tehran, the media reported.