TEHRAN, Iran (AP) — Iran's transportation minister is saying a possible deal between the Islamic Republic and Boeing Co. could be worth as much as $25 billion.

Chicago-based Boeing didn't immediately respond to a request for comment, but the figure would be on par with a sale already made by its European rival Airbus to Iran.

Iranian Transportation Minister Abbas Akhoundi's remarks on state television on Wednesday are the first figures floated by Tehran about the proposed sale.

Boeing is likely cautious about entering Iran's market as other sanctions remain in place against Tehran. American officials say the sale would need permission from the U.S. Treasury.

Iran's national carrier, Iran Air, says it wants to buy new generations of the Boeing 737, as well as the 300ER and 900 version of Boeing 777.