Vance Says Iran Could Access Up to $300 Billion Reconstruction Fund if It Meets Nuclear Terms

U.S. Vice President JD Vance said Iran could gain access to a reconstruction fund of as much as $300 billion if it meets its nuclear-related obligations.

Vance told Walter Bloomberg on June 15 that Iran could tap the $300 billion fund, backed by Gulf states, if it fulfills key commitments tied to its nuclear program.

He said hard-liners in Iran are overlooking the concessions required to reach a deal.

Talks on sanctions relief and access to frozen assets are still ongoing.

Vance said recent speculation that $24 billion in frozen Iranian assets would be released is "not part of the agreement."

The comments came after a senior Iranian official claimed that a draft memorandum of understanding with the U.S. included the release of frozen assets and economic support measures.

The U.S. and Iran have recently been negotiating over Tehran's nuclear program, sanctions relief and operations in the Strait of Hormuz. Both sides say the talks have made substantial progress.

Differences remain, however, over a final agreement and the scale of any economic support.