Trump denies $300 billion Iran investment fund in deal, despite MOU pledging financing plan

US President Donald Trump denies recent reports that a final deal with Iran would include a $300 billion fund for investment and reconstruction in the country, though a memorandum of understanding obtained and confirmed by The Times of Israel commits the parties to developing a plan that would secure at least that amount in financing.

“That’s false,” Trump says at the G7 summit in France, in response to a reporter’s request to confirm the reports.

When the reporter notes that the fund would reportedly be financed by Gulf allies, Trump says, “People can invest if they want. I mean, what am I going to do — say nobody’s ever allowed to invest? We’re not investing. We’re not putting up ten cents. People can decide to do that, but that’s up to them… We do not have a fund.”

However, the text of the MOU expected to be physically signed by both sides on Friday, and which has been verified by The Times of Israel, includes the line: “The United States undertakes, together with its regional partners, to create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Islamic Republic of Iran, while ensuring financing of at least $300 billion. The implementation mechanism of this plan, as part of the final agreement, will be formulated within 60 days.”

Trump’s denial appears to focus on direct US funding, rather than on the existence of a broader financing initiative.

When asked by the reporter to clarify if he is asking Gulf countries to fund such an initiative, Trump replies, “No, I’m not,” adding that such support would likely not come soon and would depend on Iran’s behavior.

“If they do it, fine, but I would say they won’t be doing it for a while until they find out the behavior [of Iran]. It’s a behavior thing,” he says.

A source with direct knowledge of the deal told Reuters that the fund would be private and designed to trigger investment into Iran, adding that more than half that sum has already been committed. The Financial Times reported that it would be created for companies eager to invest in the country and not for governments.