President Trump denied reports of a $300 billion reconstruction fund for Iran, calling them 'Fake News' while attending the G7 summit. This comes after Vice President JD Vance had previously discussed the possibility of such a fund, contingent on Iran honoring its commitments in an interim peace agreement with the US. Vance stated the deal aims to reopen the Strait of Hormuz and prevent Iran's nuclear program, emphasizing that economic benefits would only flow to Iran if it meets its obligations.
Iran's top negotiator, Mohammad Baqer Qalibaf, is set to attend the signing of the interim deal. Vance clarified that the Strait of Hormuz would remain toll-free for 60 days during the negotiation period. The agreement reportedly includes waiving sanctions on Iran's oil exports and potential access to frozen funds if nuclear talks progress. Vance had previously insisted that Iran would not receive any financial rewards upfront.
