General manager of the Banque Publique d’Investissement (Bpifrance) Nicolas Dufourcq attends a press conference to present the 2017 activity in Paris on February 1, 2018. AFP / ERIC PIERMONT
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France will start offering euro-denominated credits to Iranian buyers of its goods later this year, a move to bolster trade while keeping it outside the reach of U.S. sanctions, the head of state-owned investment bank Bpifrance said. France and other European countries have been looking to increase trade with Iran since Paris, Washington and other world powers agreed in 2015 to lift many economic sanctions in exchange for controls on Iran's nuclear program.Washington has maintained some financial restrictions, leaving private banks – even those based outside the United States – wary of financing deals.French banks have in the past been severely penalized by U.S. financial authorities for their dealings with Iran.
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