‎Iran deal involves oil sales rights, access to $300B fund: Report

Iran is set to receive wide-ranging financial incentives as part of its agreement with the US, including the immediate right to sell oil, access to a $300 billion development fund, and later access to its frozen assets, according to a final draft of the agreement reviewed by Bloomberg.

The final draft provides the clearest outline yet of the economic support Iran would receive in exchange for ending its control over the Strait of Hormuz and reaffirming its commitment not to pursue nuclear weapons.

The new fund is a private investment mechanism, not a reconstruction or compensation program, and would not include government funds or grants, a source familiar with the matter told Reuters.

Companies from various countries have agreed to provide financing, with pledged investments covering the energy, logistics, manufacturing, and transportation sectors, the source said.

A senior Iranian official said Tehran had initially requested $400 billion in compensation from the US for war-related damages, but Washington rejected the amount, leading to the idea of establishing the fund.

Washington and Tehran plan to sign the agreement on June 19 in Switzerland, paving the way for 60 days of talks aimed at ending the war and imposing new strict limits on Iran’s nuclear program.

Although neither side has officially published the agreement text, a source said the US has begun circulating the draft among allied countries at the G7 summit in France.

Iran is set to receive wide-ranging financial incentives as part of its agreement with the US, including the immediate right to sell oil, access to a $300 billion development fund, and later access to its frozen assets, according to a final draft of the agreement reviewed by Bloomberg.

The final draft provides the clearest outline yet of the economic support Iran would receive in exchange for ending its control over the Strait of Hormuz and reaffirming its commitment not to pursue nuclear weapons.

The new fund is a private investment mechanism, not a reconstruction or compensation program, and would not include government funds or grants, a source familiar with the matter told Reuters.

Companies from various countries have agreed to provide financing, with pledged investments covering the energy, logistics, manufacturing, and transportation sectors, the source said.

A senior Iranian official said Tehran had initially requested $400 billion in compensation from the US for war-related damages, but Washington rejected the amount, leading to the idea of establishing the fund.

Washington and Tehran plan to sign the agreement on June 19 in Switzerland, paving the way for 60 days of talks aimed at ending the war and imposing new strict limits on Iran’s nuclear program.

Although neither side has officially published the agreement text, a source said the US has begun circulating the draft among allied countries at the G7 summit in France.