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France: USD 15 bn for Iran

The financial package serves to contain the losses of US sanctions

The Iranian delegation arrived in Paris on Monday to work out the details of a financial rescue package that the French President, Emmanuel Macron, intends to use to compensate Iran for oil sales lost due to US sanctions. In exchange for money, Iran would accept returning to the terms of the 2015 nuclear agreement (see AVIONEWS).

The package would consist of a USD 15 billion credit that represents about half of the revenue that Iran could normally earn from oil exports in a year.

The Macron government did not provide further details on its negotiations with the Iranians, although the issue was widely discussed between the French leader and US president Donald Trump during the G7 summit last week-end (see AVIONEWS).

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