[Ed. – Macron is under a time constraint, as Iran promises to increase non-compliance on Thursday if the EU doesn’t roll over far enough. Pallets of cash?]
A senior Iranian delegation arrived in Paris on Monday to work out the details of a financial bailout package that France’s president, Emmanuel Macron, intends to use to compensate Iran for oil sales lost to American sanctions. In return for the money, Iran would agree to return to compliance with a 2015 nuclear accord.
Iranian press reports and a senior American official say that the core of the package is a $15 billion letter of credit that would allow Iran to receive hard currency, at a time when most of the cash it makes from selling oil is frozen in banks around the world. That would account for about half the revenue Iran normally would expect to earn from oil exports in a year. …
While Mr. Macron and Mr. Trump gave no hint of their differences in public comments, administration officials say the French effort, which other European nations appear to support, is undermining the administration’s effort to exert what Mr. Trump calls “maximum pressure” on Tehran.