France Offers Iran $15 Billion to Keep Nuke Deal Alive

France has reportedly offered to extend Iran a $15 billion letter of credit in exchange for the Islamic Republic’s ongoing compliance with the 2015 multilateral nuclear deal. The amount is equal to about half of Iran’s annual oil sales, which have been reduced by over 80 percent since US President Donald Trump in May of last year withdrew from the nuclear pact and re-imposed economic sanctions on Tehran. French President Emmanuel Macron recently met with Iranian Foreign Minister Mohammad Javad Zarif on the sidelines of the G7 summit, which President Trump also attended. The US leader did not object to the Zarif’s presence and, in fact, reiterated a willingness to hold direct talks with Iranian President Hassan Rouhani. Despite signs of a potential diplomatic breakthrough, Rouhani stressed this week that his government would not negotiate with the US unless the White House first lifts sanctions. Meanwhile, a spokesman for Iran’s Atomic Energy Organization warned that unless European countries provide the Islamic Republic with financial relief by a September 6 deadline, the country could resume enriching uranium to 20 percent within 48 hours.