MOSCOW, September 5. /TASS/. The situation around the Joint Comprehensive Plan of Action (JCPOA) on Iran’s nuclear program should be resolved on the basis of the initiative put forward by France, Russian Permanent Representative to International Organizations in Vienna Mikhail Ulyanov said on Thursday.

"Trade wars became routine practice in today’s world. But in case of Iran we observe a somewhat different situation: tightened sanctions in exchange for reduced limitations in the nuclear field. Nobody benefits from this race. It’s high time to go back to normality on the basis of French ideas," he wrote in a Twitter post.

French President Emmanuel Macron earlier highlighted the need for a meeting between US President Donald Trump and his Iranian counterpart Hassan Rouhani. He suggested that Iran be allowed to sell certain volumes of oil in exchange for a number of commitments. In particular, the possibility of allowing Tehran to sell about 700,000 barrels of oil per day and providing a $15-bln loan to Iran was explored.

Tensions over Iran’s nuclear program escalated after Washington unilaterally withdrew from the JCPOA on May 8, 2018, and slapped economic sanctions on Iran’s oil industry.