Synopsis: France became heavily involved with Iraq in the mid 1970's (note: pre-Reagan) as a result of a meeting between Chirac and Hussein. French oil companies received benefits and a significant share of Iraqi oil. France sold over 20 million dollars worth of military equipment to Iraq, including Mirage fighter jets. France had a huge trade investment in Iraq, and had billions of dollars worth of contracts.
I know Europeans love to point to US policy in South America during the Cold War, so let's not forget the French arms sales to the military regime of Argentina. Arms that were later used to sink two British destroyers in the Falklands War (specifically, it was the Super Etendard armed with Exocet missles).
Oh, and should we even get started on the food-for-oil fiasco?
Various links. Or, just do some research on your own and learn something. Next week, Russia, Germany and China.