The following insights/takeaways from the G7 Summit are from the former Indian ambassador to Iran, Mr. Melkulangara (M.K.) Bhadrakumar. Mr. Bhadrakumar’s articles are regularly republished on The Iranian and his blog Indian Punchline is a must-read for anyone interested in foreign policy/global politics. The below is an excerpt from his latest article titled: Macron’s Carolingian Renaissance of the G7
Is regards international security, the G7 summit’s shared positions on the situation around Iran are highly significant. France — and Macron personally — has staged a major diplomatic coup in bridging the gap between Washington and Tehran by creatively distilling two “very clear things that mattered to us: Iran should never have the nuclear weapon, and its situation should not threaten the stability of the region.” (Macron)
Macron added, “A roadmap has sort of been set…” He disclosed that “in the next few weeks, based on our discussions (with Trump and Iranian president Hassan Rouhani), a meeting may take place between the two leaders, which he estimates “is going to lead to bringing an end to escalation and reaching a suitable solution to this (standoff).”
The French initiative devolves upon the idea that there might be a need for compensation to Iran in some form to bring it to the negotiating table. Trump gave a tiny peep into what could be in the works when he said, “What he’s (Macron) talking in terms of compensation is they (Iranians)… may need a short term letter of credit or loan… they may need some money to get them over a very rough patch. And if they do need money, certainly. And it would be secured by the oil, which to me is great security and they have a lot of oil, but it’s secured by oil. So we’re really talking about a letter of credit type facility.”
Trump added, “It would be from numerous countries, in numerous countries. And it comes back. It would expire. It would be paid back immediately and very quickly.” (Transcript)
A Trump-Rouhani meeting is highly likely, possibly during the UNGA session.