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France suggests $15 billion credit line plan for Iran if the U.S. permits it

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France has suggested offering Iran about $15 billion (12.2 billion pounds) in credit lines until the end of 2019, if Tehran returns ultimately into an agreement with its 2015 atomic deal, a move that relies on Washington not blocking it, as per the Western and Iranian sources told the Reuters.

The French Foreign Minister Jean-Yves le Drian stated that talks on the credit plan, which would be ensured by Iranian oil revenues, were proceeding; however, the U.S. endorsement is essential.

The thought is “to trade a credit line ensured by oil as a byproduct of, one, an arrival to the JCPOA (Iran atomic deal) and two, protection in the Gulf and the opening of negotiations on regional defense and a post-2025 (atomic program),” Le Drian stated to the journalists.

European leaders have attempted to cease tensions confronting between Tehran and Washington since the U.S. President Donald Trump came out of the nuclear deal, which guarantees Iran access to world trade in barter for controls on its atomic program.

For the United States to allow a credit line for Iran would contradict its strategy of forcing “most extreme pressure” to constrain Tehran to keep control over its atomic and missile programs just as what Washington sees as its destabilizing regional conduct.

According to Reuter’s reports, a U.S. State Department representative alluded inquiries about France’s proposal to the White House, which did not quickly react to a solicitation for comment.

French President Emmanuel Macron has spent time in attempting to make conditions that would take the two nations back to the negotiating table. At a G7 meeting in France a month ago, Trump seemed open to the concept of credit lines. However, U.S. authorities later ruled out lifting the sanctions as a condition for fresh talks.

The US has asserted the nuclear deal can only be renewed if Iran renegotiates the terms of the agreement, and gives wider undertakings about stopping its “regional militarism” and reduces its atomic missile program. The Guardian reports.

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