Others in the president’s circles, including Vice President JD Vance, have suggested Tehran could gain access to a major regional investment fund if it upholds its side of the peace accord.
Read more Goal-scoring midfielder Weir joins OL Lyonnes from Real Madrid
ÉVIAN-LES-BAINS, France — President Donald Trump on Tuesday said that the United States would not immediately hand over money to Iran as part of the countries’ deal to end the war and open the Strait of Hormuz.
“We are not investing any money in Iran, by the way,” Trump told reporters at the Group of Seven summit in France, as he dismissed news reports about potential U.S. investment in the country as “ridiculous.”
Trump said there was likely to be a need to invest in Iran in the future, given the devastation following the country’s conflict with the U.S., but that it was not his immediate focus.
“I’m sure there’s going to be huge opportunities,” Trump said, flanked by Secretary of State Marco Rubio and Treasury Secretary Scott Bessent.
Hezbollah, the Iranian-backed militant group in Lebanon, and others have said that the agreement would contain a $300 billion investment fund for Iran.
Asked by CBS News on Monday about the possibility of that fund, Vice President JD Vance did not deny it.
“That’s the sort of thing they could have access to, funded by the Gulf Coast Coalition, so long as they honor their end of the obligation,” Vance said, appearing to refer to the coalition of six Persian Gulf countries known as the Gulf Cooperation Council (GCC).
U.S. and Iranian officials are set to sign their deal on Friday in Geneva, officials have said.
The agreement calls for reopening the Strait of Hormuz, a crucial waterway for global energy supplies. The price of oil, which fell sharply on news of the peace deal and the prospect of increased global supplies, slipped further on Tuesday to around $80 per barrel.
Trump made his remarks on Tuesday in a meeting with Emir Tamim bin Hamad Al Thani, the leader of Qatar, which is a member of the GCC. Trump thanked the Qatari leader for his country’s help during the war and efforts to reach a peace deal.
The Washington Post reported last week that Qatar made secret outreach to Iran toward the beginning of the war seeking to shield its major natural gas complex from Iranian retaliatory strikes.
“You could walk right across the border, so you were in a more dangerous position,” Trump told the Qatari leader. “But … you fought and you helped us, and with great bravery. So, I just want to compliment you on that, and you’ll always be my friend.”
Read more Defender Rüdiger ‘not done here’ as he signs 1-year contract extension at Real Madrid
The Qatari leader thanked Trump and praised him for “the very important deal.” He did not point out that crossing the Iran border from Qatar would require walking on water, across the Persian Gulf.
Trump has insisted that as part of the peace deal, Tehran will end its effort to acquire a nuclear weapon. In exchange, Iran has demanded the release of billions in assets that were frozen by U.S. sanctions.
Trump officials and allies, however, have dismissed news reports about Iran receiving financial inducements to reach a ceasefire, with the White House particularly rankled by comparisons to a deal that President Barack Obama helped broker in 2015.
Both the Obama-era and Trump deals would lift sanctions on Iran and allow the country to access foreign funding.
Critics of Trump’s deal, including many Israeli officials, say that it will not fully eliminate the threats posed by Iran and its hard-line regime.
Some congressional Republicans have also said they want a say on Trump’s deal and that they are against giving funds to Iran.
Vance said on Fox News on Monday that Iran would “never get a dime” of U.S. taxpayer money.
Others in Trump’s orbit have described a potential investment fund as an incentive for Iran to uphold its side of the peace accord.
“Under this approach, Iran would first have to fully dismantle its nuclear program, completely end its support for terrorist groups, and carry out meaningful internal reforms,” Alex Bruesewitz, a Trump adviser, posted on X. “Only then would the United States help organize a group of investors to pursue commercially attractive opportunities in Iran.”
Trump said Tuesday that his focus remains on global security risks, not economic opportunities.
“The only thing that really matters to me is Iran will never have a nuclear weapon,” the president said.
Read more Serena and Venus Williams to play doubles together at Wimbledon
Victoria Craw contributed to this report.
