Persian Gulf Countries to Join $300 Billion Iran Reconstruction Fund, US to Exclude Itself
Quick Look
- Persian Gulf nations will invest in a $300 billion Iran reconstruction fund, while the US will not participate but will control business dealings through licensing.
- Sanctions relief is contingent on a final agreement.
AI-generated summary
Why It Matters
A US-Iran memorandum reportedly details a $300 billion reconstruction fund for Iran, to be financed by Persian Gulf neighbors, with US oversight on business dealings and sanctions.
NEW YORK, June 18. /TASS/. Persian Gulf countries will become members of the $300 billion Iran reconstruction fund, but the US will not participate, Fox News reported, citing the text of a two-page US-Iran memorandum.
"There's going to be a $300 billion fund where Gulf neighbors - not us - will invest in rebuilding Iran," the TV host said.
According to him, the US "will control who does business in Iran" by granting the necessary licenses, exemptions, and permits. Sanctions against Iran will be lifted only after the signing of a final agreement, "which is only going to get tougher."
Open Questions
- Specific terms of the final agreement
- Exact licensing and permit process
- Individual contributions from Gulf nations
