Summary
Iran welcomed the most senior French trade delegation in years on Monday, telling more than 100 executives that the far-sighted among them stood to win the race for business following an easing of some economic sanctions.
Former French ambassador to Iran Francois Nicoullaud told Reuters that French firms that operated in Iran before the sanctions wanted to return.
Iran will be able to spend $4.2 billion in unfrozen funds over six months, although most sanctions remain pending a long-term agreement.
Last month, Reuters reported that Iran and Russia were negotiating a deal worth $1.5 billion a month under which Russia would buy up to 500,000 barrels a day of Iranian oil in exchange for Russian equipment and goods.
Asked to comment on U.S. worries regarding the possible purchase of Iranian oil by Russian companies, Russia's Ambassador to Tehran, Levan Dzhagaryan, told Russian daily Kommersant in an interview published on Monday: There have been no agreements signed yet, talks are ongoing".
He added that Russia's No.2 oil producer Lukoil has expressed interest in returning to Iran and that nuclear energy cooperation was also being discussed.
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