Abu Dhabi, UAEWednesday 16 October 2019

Iran says will return to nuclear deal if it receives $15bn within months

France has offered Tehran a line of credit to ease the pain of crippling US sanctions on its economy

Iranian President Hassan Rouhani on Tuesday ruled out any plan in holding bilateral talks with the United States. EPA
Iranian President Hassan Rouhani on Tuesday ruled out any plan in holding bilateral talks with the United States. EPA

Iran's deputy foreign minister has said the country will return to its nuclear deal commitments if it receives $15 billion in oil sales over a four months period.

Seyed Abbas Araghchi travelled to Paris on Monday for talks with French officials about an economic plan to salvage the nuclear deal.

France has proposed offering Iran about $15 billion in credit lines until year-end if Tehran comes fully back into compliance with its 2015 nuclear deal, a move that hinges on Washington not blocking it.

"Our return to the full implementation of the nuclear accord is subject to the receipt of $15 billion over a four-month period, otherwise the process of reducing Iran's commitments will continue," he said.

"The Islamic Republic of Iran, as it has repeatedly stated, will only return to full implementation if it is able to sell its oil and its access and income in a fully usable manner."

US President Donald Trump left the landmark 2015 nuclear deal signed with world powers last year, imposing two rounds of sanctions to launch his "maximum pressure" campaign against the regime.

"Either Europe has to buy oil from Iran or provide Iran with the equivalent of selling oil as a credit line guaranteed by Iran's oil revenues, which in some sense means a pre-sale of oil," Mr Araqchi added.

Iran's vital oil sales have plummeted since the United States withdrew from the nuclear deal last year and reimposed sanctions on Tehran.

But Mr Araqchi said there were still "serious disagreements on the agenda" of any future talks between Iran and its nuclear deal partners.

Updated: September 4, 2019 11:36 AM

SHARE

SHARE