France has proposed offering about $15 billion in credit lines for Iran if it comes back into compliance with the 2015 Iran nuclear deal, Reuters reports.

The catch: The prospective deal hinges on the Trump administration not blocking it.

"French Foreign Minister Jean-Yves le Drian said talks on the credit arrangement, which would be guaranteed by Iranian oil revenues, were continuing, but U.S. approval would be crucial," per Reuters.

The agreement would provide “a credit line guaranteed by oil in return for, 1, a return to the JCPOA (Iran nuclear deal) ... and 2, security in the Gulf and the opening of negotiations on regional security and a post-2025 (nuclear program),” Le Drian told reporters. “All this (pre)supposes that President Trump issues waivers.”

Why it matters: Iran is a key player in the oil market and its declining economy is a key risk for the Middle East and Europe.

A destabilization could trigger another serious refugee crisis in addition to the danger of its potential nuclear capabilities.

European leaders have scrambled to find a solution for Iran's faltering economy since Trump pulled out of the deal last year.

Go deeper: Iran timeline: How Trump and Tehran came to the brink of war