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International Business Times
International Business Times
Business
Demian Bio

More Than Half Of $300 Billion Fund To Invest In Iran Already Committed: Report

The deal between the U.S. and Iran reportedly includes a $300 billion fund to invest in the latter, more than half of which has already been committed, according to a new report. (Credit: Photo by ATTA KENARE / AFP via Getty Images/AFP)

The deal between the U.S. and Iran reportedly includes a $300 billion fund to invest in the latter, more than half of which has already been committed, according to a new report.

Reuters noted that a $300 billion private fund to invest in Iran is included in the memorandum of understanding between the countries to end the war and kick off nuclear negotiations.

The outlet detailed that the fund is a private investment vehicle, rather than a reconstruction or reparations program, and won't include government funding. Companies based in the U.S., the Gulf and elsewhere have already pledged financing.

The investments pledged span several industries, including energy, logistics, manufacturing and transport. The funding could come in the form of loans, credit lines or the straight financing of reconstruction of sites damaged during the war.

Elsewhere, the outlet noted that the vehicle is not related to the release of frozen funds and the relief of U.S. sanctions imposed on Tehran over the years. A source speaking to Reuters said that the fund will "only be created once the final deal is signed," and fund administrators will work with Iranians and investors during negotiations to "plan and scope projects."

President Donald Trump, however, threatened to resume the war if he doesn't like the final agreement.

Speaking to press alongside Egyptian President Abdel-Fattah El-Sisi at the G7 conference in France, Trump said he will "go right back to dropping bombs" in such a scenario.

"I don't like it if they don't behave. We'll go right back to dropping bombs right smack in the middle of their head," Trump added.

He went on to note that the deal, which is set to be signed on Friday in Geneva, is "not final."

Another source of tension comes from Lebanon. Iran and Hezbollah have also said that Tehran's agreement with the U.S. requires Israel to withdraw from the country, something that Israel has rejected.

Iranian Foreign Minister Abbas Araghchi said the presence of Israeli forces in the country would be a violation of the agreement.

"When we reached a ceasefire, we declared it across all fronts, with particular emphasis on Lebanon," Araghchi told press.

Israel, however, has rejected such a possibility. The country's defense minister, Israel Katz, said the country won't withdraw from seized Lebanese territory despite the tentative agreement.

Speaking to press after the deal was announced, Katz also warned that if Iran attacks Israel in retaliation for strikes in Lebanon, it will respond "with full force" and won't relent on its goal "despite all the existing pressures and those that will still come."

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