Daily Beast:

President Donald Trump has left the impression with foreign officials, members of his administration, and others involved in Iranian negotiations that he is actively considering a French plan to extend a $15 billion credit line to the Iranians if Tehran comes back into compliance with the Obama-era nuclear deal.

Trump has in recent weeks shown openness to entertaining President Emmanuel Macron’s plan, according to four sources with knowledge of Trump’s conversations with the French leader. Two of those sources said that State Department officials, including Secretary Mike Pompeo, are also open to weighing the French proposal, in which the Paris government would effectively ease the economic sanctions regime that the Trump administration has applied on Tehran for more than a year.

The deal put forward by France would compensate Iran for oil sales disrupted by American sanctions. A large portion of Iran’s economy relies on cash from oil sales. Most of that money is frozen in bank accounts across the globe. The $15 billion credit line would be guaranteed by Iranian oil. In exchange for the cash, Iran would have to come back into compliance with the nuclear accord it signed with the world’s major powers in 2015. Tehran would also have to agree not to threaten the security of the Persian Gulf or to impede maritime navigation in the area. Lastly, Tehran would have to commit to regional Middle East talks in the future. 

While Trump has been skeptical of helping Iran without preconditions in public, the president has at least hinted at an openness to considering Macron’s pitch for placating the Iranian government—a move intended to help bring the Iranians to the negotiating table and to rescue the nuclear agreement that Trump and his former national security adviser John Bolton worked so hard to torpedo.

At the G7 meeting in Biarritz, France last month, Trump told reporters that Iran might need a “short-term letter of credit or loan” that could “get them over a very rough patch.”

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