Trump backs Iran pledge on nuclear weapons as $300bn fund report circulates

US President Donald Trump has publicly said Iran has agreed never to have a nuclear weapon, in his clearest endorsement yet of a key clause in a memorandum of understanding signed between Washington and Tehran on Sunday. In the same post, he rejected reports that the United States was paying Iran, calling claims of a $300 million transfer "fake news". The comments come as the deal moves toward a formal signing in Geneva on Friday.

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The financial reporting at the centre of the dispute concerns a much larger figure than the one Trump dismissed. A report cited a US official as saying the administration is prepared to allow the creation of a $300 billion investment fund for Iran as part of a final settlement, contingent on Tehran agreeing to a nuclear deal. The official said Washington had discussed the possibility of sanctions relief and a large fund to rebuild the country, with the incentives tied to Iran's performance under the memorandum.

Hours before Trump's post, Vice President JD Vance said Iranians could have access to a $300 billion reconstruction fund if they comply with the terms of the agreement. According to the report, the proposed fund would not be a direct government payment. Instead, it would come from private companies interested in investing in a country described as having abundant energy resources.

The structure and management of the fund were said to be unclear, and the money would only come into play after several conditions were met. Those conditions include a 60-day extension of the ceasefire, the reopening of the Strait of Hormuz, and further nuclear negotiations. The development matters because it links nuclear restrictions, sanctions relief and post-war reconstruction in one package.

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That makes the talks politically sensitive in both countries, particularly given the scale of the incentives being discussed. The report said the financial terms have been among the most contentious issues in the negotiations, with Trump said to be reluctant to appear to reward Iran's government. The memorandum of understanding was described as ending more than 100 days of war, making it a major shift in the conflict.

The planned signing in Geneva on Friday suggests the process is still moving through formal stages, even as the details remain disputed in public. The involvement of senior US figures, including the president and vice president, indicates the issue is being handled at the highest political level. What remains unclear is how much of the reported fund structure is settled, who would manage it, and whether the conditions attached to it will be accepted by both sides.

It is also not clear how the ceasefire extension, the reopening of the Strait of Hormuz and the nuclear talks will be sequenced in practice. The next key point to watch is the Geneva signing and whether it confirms the reported financial framework or narrows it further.

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