Fabius: France's Tough Stance in Negotiations Will Not Negatively Impact Relations with Iran

Two days after a German delegation led by the country's Minister of Economy visited Iran, the French Foreign Minister announced that he would travel to Tehran next week. Laurent Fabius stated in an interview with 'Radio France Inter' on Tuesday, July 30, that he would visit Iran at the invitation of his Iranian counterpart Mohammad Javad Zarif and would also meet with Iranian President Hassan Rouhani during this trip. One of his aides also told AFP that the likely date for Fabius's trip to Tehran is August 7. According to Reuters, Fabius also mentioned that France's tough stance in nuclear negotiations would not negatively affect the expansion of economic relations with Iran in the post-sanctions era. This will be the first visit by a French foreign minister to Tehran in 12 years. Iran and six world powers reached a comprehensive nuclear agreement on July 14, and a week later, a large German business delegation led by the country's Minister of Economy, Sigmar Gabriel, visited Tehran for three days. The French Foreign Minister further emphasized: 'It is true that France took a tough position in the nuclear negotiations, but in the post-sanctions era, France will not be punished (by Tehran), as we have had a significant presence in this country in the past.' He stated: 'Our presence was excellent in many areas, and Iranians are serious people.' Reuters reports that after the lifting of sanctions, Iran will have access to over $100 billion of its blocked oil assets abroad and this oil-producing country is seeking to rejoin the global trading system. Iran and France have had a complex relationship politically and financially, while Paris's relations with Arab countries, especially Saudi Arabia, have been on the rise. Reuters notes that unlike Germany, Mr. Fabius will not bring a business delegation to Tehran, but France is preparing to restore economic relations with Iran in the first quarter of 2016. The news agency cites a senior French diplomat stating that 50 CEOs of some of the largest French companies are looking to benefit from the Iran nuclear deal. According to him, a French business delegation comprising representatives from about 80 companies will visit Tehran in September (in two months). According to estimates from the French Foreign Ministry, France's exports to Iran fell from €1.66 billion in 2011 to €494 million in 2013. Imports from Iran also plummeted from €1.77 billion to €62 million. BNP Paribas, France's largest bank, was fined $9 billion by the U.S. last year for violating Iran sanctions. Meanwhile, Britain has also expressed its desire to expand political and economic relations with Iran. According to Reuters, Britain is also looking to seize the opportunity presented by the lifting of sanctions to expand trade and financial relations with Iran. British Foreign Secretary Philip Hammond stated on Tuesday that companies in his country are eager to enter Iran, noting that estimates suggest $150 billion of Iran's assets will be transferred to this country after sanctions are lifted, providing significant capital for the development of Iran's hydrocarbon (oil and gas) infrastructure.