President Trump on Tuesday claimed the U.S. will not invest any money in Iran, after Vice President Vance seemed to confirm reports that Iran could potentially gain access to a $300 billion reconstruction fund as part of its peace agreement with the U.S.
“We are not investing any money in Iran, by the way, and that rumor that got out there yesterday was ridiculous,” Trump told reporters at the G7 summit in France. “We have the right to go in some day and do, if I want to do something, or if somebody wants to do something, but we are not investing any money.”
Earlier Monday, a U.S. official told reporters that they “discussed the possibility of releasing frozen funds, sanctions relief, you know, a big $300 billion fund to rebuild their country,” adding that any such moves would be tied to Iran’s ability to uphold its obligations aligned in the deal.
Trump dismissed the reports of Iran possibly receiving the large sum of money from the U.S. under the peace agreement reached Sunday as “Fake News” in a Truth Social post on Monday evening.
The New York Times reported the memorandum of understanding signed on Sunday included a $300 billion reconstruction fund for Iran, citing an Iranian official and a diplomat.
Vance said the “Gulf Coast Coalition” would be responsible for its funding, apparently referring to the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
According to multiple reports on the deal, the U.S. will waive sanctions on Iran’s oil exports as part of the initial deal to reopen the Strait of Hormuz, providing a badly needed economic lifeline before negotiations begin over the future of its nuclear program.
Iran could also gain access to funds frozen in overseas accounts if nuclear talks make progress.
Prior to the agreement reached Sunday, Vance insisted Iran would not receive any financial rewards up front.
“I’m seeing a lot of fake information about a potential deal to reopen the Strait and end Iran’s nuclear weapons program,” he wrote in a post on the social platform X on Friday.
“First, the Iranians are not receiving any cash, and no funds are being released for simply signing a deal or attending a meeting,” he continued. “The deal is structured to ensure that the US and its allies' concerns are prioritized, and that if the Islamic Republic of Iran meets its obligations, then economic benefits will flow to them and to the entire region.”
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