The French government has proposed offering a credit line for Iran that would be guaranteed by its oil revenues. Reuters and other sources say France could provide up to 15 billion dollars.

French Foreign Minister Jean-Yves le Drian said talks on the credit arrangement were continuing on Tuesday, a day after he met visiting Iranian foreign ministry officials.

He told reporters in Paris that France will require Tehran to fully comply with the 2015 nuclear deal and to take steps to ensure the security of the Persian Gulf.

He also said the arrangement presupposes that US President Donald Trump issues waivers.

The US has re-imposed and tightened economic sanctions on Iran since Trump pulled out of the nuclear deal last year.

Iran has exceeded the limit on uranium enrichment set by the agreement, saying it is not getting the promised economic benefits.

Tehran has suggested it could further increase the enrichment level this week, depending on what European countries can do to help its economy.

NHK