France Would Give Iran $15 Billion in Credit for Nuclear Compliance

Proposal would depend on the US not blocking it

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.

Author: Jason Ditz

Jason Ditz is news editor of Antiwar.com.