New Oil Reserves Found in South-Western Iran

President Hassan Rouhani has said Iran cannot be shut out of global energy markets because of its vast oil and gas reserves.

On Monday, Trump described Iran as a country of “tremendous potential”, saying he was ready to meet Rouhani under the right circumstances to end a confrontation over the 2015 nuclear deal which the US president abandoned last year.

The mercurial American leader, however, ruled out lifting unilateral US sanctions and suggested Iran would meet “violent force” if it followed through on what it called its threats.

Trump also said he was not open to giving Iran compensation for sanctions, but did not oppose the idea that numerous countries 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… so we are really talking about a letter of credit. It would be from numerous countries, numerous countries.”