In a move intended to convince Iran to return to full compliance with all optional aspects of the P5+1 nuclear deal, France is proposing to offer $15 billion in credit, according to Foreign Minister Jean-Yves le Drian.
Trump had suggested he would be open to allowing the EU to offer a line of credit for Iran, so long as Iran didn’t get anything else, and so long as that credit used oil as collateral.
France believes they need Trump’s imprimatur to even try, since the US banking sanctions are preventing pretty much all direct financial ties to Iran. It’s not clear Trump was sincere in saying that was possible, however, or if he was just talking to emphasize he wouldn’t offer anything else.
Since the line of credit France is proposing would be contingent on oil shipments, it is tantamount to allowing Iran to sell $15 billion in oil at some point in the future.
sounds like someone is looking at a Persian colony
Not going to matter. Trump can sanction any company in France doing business with Iran. Without France indemnifying those companies, they won’t be willing to risk it. Same applies to the rest of the EU.
And since when has the US ever cared about what France “proposes”? Anyone remember “French fries” back before the Iraq war? Trump’s suggestion was just another one of his throw-away comments, all of which are meaningless.
This is a nothing-burger. Iran us to get back into compliance? OK — if France and others stop breaking the agreement, and accept processed fuel, so no need for “stockpiling”. Language is perversely abused in our world and there are no consequences to abuser. So, if Iran cannot get rid of processed fuel, it is in violation. What will $15 billion do for it! The only reason for bringing it up is to cause internal divisions. The hope is — traders that are really hurting might put pressure on the leadership to take the deal. But by now, every child in Iran knows that taking any deals is just a prelude for more accusations and mire conditions.
If Trump is looking for a deal to avoid election time Iran agenda — then France will find a way to solve “stockpiling” and give credits for oil. This unfortunately reminds one with Iraq food for oil program managed by UN.