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France Proposes $15 Billion Bailout for Iran to Save Nuclear Deal
(New York Times) David E. Sanger - A senior Iranian delegation arrived in Paris on Monday to work out the details of a financial bailout package to compensate Iran for oil sales lost to American sanctions. A senior American official said the core of the package is a $15 billion letter of credit, equal to about half the revenue Iran would expect to earn from oil exports in a year. U.S. officials say the French effort, which other European nations appear to support, is undermining its effort to exert "maximum pressure" on Tehran. Without U.S. support for the deal, it is not clear whether European banks would risk American sanctions by extending credit to Tehran.