The US and Iran are circling a draft memorandum of understanding that would create a roughly $300 billion private reconstruction fund for Iran’s postwar economy. Over half of that amount has reportedly already been pledged by private investors, according to Reuters.
The fund is designed to lean on private capital, with Gulf states potentially backing the effort, rather than direct US taxpayer spending.
What’s in the draft deal
The proposed framework goes well beyond the reconstruction fund. Oil sanctions waivers would allow Iran to restart crude exports and begin collecting revenues again. Phased sanctions relief is also on the table, along with the release of frozen Iranian assets. In return, Iran would commit to nuclear restrictions and accept inspections.
An interim 60-day period would follow the initial agreement, during which the two sides would negotiate the finer details of the investment fund and nuclear limitations.
