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Why does France want to keep the Iran nuclear deal? “French exports to Iran for the first 11 months of 2017 rose 120% to €1.29 billion ($1.6 billion) and imports grew 80 % to €2.16 billion,” Celestin-Urbain said.
“The short-term priority was to keep trade simple and complete a scheme this year to offer euro-denominated credits to Iranian buyers of French goods,” he said, a move that would keep bilateral trade outside the reach of US sanctions.
The head of state-owned investment bank Bpifrance, which is putting the plan together, said he was confident the scheme, which had a pipeline of deals worth €1.5 billion, could start operating by end-May or early-June. However, he warned that talks were ongoing on how to protect French firms if the US snapped back sanctions.
Now we understand the visits to the Trump White House from foreign leaders. The timing of the Netanyahu speech, hours after a suspected Israeli strike that likely used bunker-busters capable of hitting Iran’s nuclear facilities, after Secretary Mike Pompeo’s visit and days before Trump’s May deadline is certainly interesting.