Macron offers Iran bailout to stick with nuclear accord


French President Emmanuel Macron is offering a $15 billion bailout to top Iranian negotiators who arrived in Paris on Monday in exchange for Tehran's commitment to returning to its landmark 2015 nuclear accord, The New York Times reported. The financial incentive is intended to compensate Iran for oil sales lost because of sanctions imposed by the U.S. since President Trump withdrew from the agreement last year.
The $15 billion letter of credit would give Iran the ability to receive hard currency while most of the income from its oil sales is frozen in banks. The money roughly equals half of the revenue Iran would get from oil sales in a year. Trump administration officials say the bailout would undermine Trump's effort to put "maximum pressure" on Iran, the Times said.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
Home Depots are the new epicenters of ICE raids
In the Spotlight The chain has not provided many comments on the ongoing raids
-
Why does Trump keep interfering in the NYC mayoral race?
Today's Big Question The president has seemingly taken an outsized interest in his hometown elections, but are his efforts to block Zohran Mamdani about political expediency or something deeper?
-
The pros and cons of banning cellphones in classrooms
Pros and cons The devices could be major distractions
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year