Trump says not open to compensation for Iran, could be credit lines

U.S. President Donald Trump said on Monday he was not open to giving Iran compensation for sanctions on its economy imposed by Washington since Washington pulled out of Tehran's 2015 nuclear deal with world powers. However, he told a news conference at a G7 summit in Biarritz, France, that numerous countries would give Iran a credit line to keep it going.

"No we are not paying, we don't pay," Trump said. "But they may need some money to get them over a very rough patch and if they do need money, and it would be secured by oil, which to me is great security, and they have a lot of oil, but it is secured by oil, so we are really talking about a letter of credit. It would be from numerous countries, numerous countries."

Also Read: PM Narendra Modi meets US President Donald Trump in French town of Biarritz.