The United States and Iran are expected to formally sign a memorandum of understanding in Switzerland on Friday, following an electronic signing earlier this week. The agreement could pave the way for a proposed $300 billion investment fund aimed at supporting Iran’s economic recovery and reintegration into the global economy after the recent conflict and energy crisis.
US Vice President JD Vance said access to the fund would depend on Iran’s compliance with the agreement, including nuclear inspections and other commitments. He emphasized that the fund would not be a direct US payment to Iran but would likely be financed by private investors and regional partners.
Vance said the deal “fundamentally extends a hand to Iran and says, ‘Look, if you guys are willing to honour your obligations, if you’re willing to allow real inspections of your nuclear programme, then we will welcome you back into the world economy.’
“That’s the sort of thing they could have access to, funded by the Persian Gulf Coast coalition, so long as they honor their end of the obligation,” Vance told CBS. He also claimed that while US money would not be injected, economic opportunities could arise once Iran repositions itself in the global economy.
The New York Times quoted sources saying the fund would not come from governments but be created for companies eager to invest in Iran.
Speaking to reporters on Tuesday, Qatar’s Foreign Ministry spokesman Majed al-Ansari denied that Doha contributed funds to the reconstruction fund for Iran.
“We cannot comment on the $300bn allocated for reconstruction,” he told a reporter when asked about the figure.
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Muhanad Seloom, a non-resident senior fellow at the Middle East Council on Global Affairs, said the setup was a no-lose solution for Washington. “If Iran reforms, the administration owns the peace; if it doesn’t, the US loses nothing and the Gulf carries the risk,” he told Al Jazeera.
Iranian officials cautiously welcomed the agreement, while stressing that Tehran remains skeptical because of past US withdrawals from agreements. American lawmakers from both parties have called for the full terms of the deal to be made public.