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1 Feb, 2018 07:35

France to start financing exports to Iran, sidestep US sanctions

France will start offering euro-denominated loans to Iranian buyers of its goods later this year, to help trade outside the reach of US sanctions, according to the head of state-owned investment bank Bpifrance, Nicolas Dufourcq. Paris has been looking to boost trade with Iran ever since world powers agreed in 2015 to lift many sanctions on Iran in exchange for controls on its nuclear program. The plan is to offer dedicated, euro-denominated export credits to Iranian buyers of French goods and services and so avoid the extraterritorial reach of US legislation, Reuters said. The export credits could be offered in May or June.