Trump shuts down $300 billion Iran fund reports, calls them "false"

Reports in the media about the creation of a $300 billion private investment fund as part of a US agreement to resolve the conflict with Iran are not true, US President Donald Trump has stated.

“It's false. <…> We are not investing in it, and we do not have a fund. That's a false story that got picked up incorrectly from a statement that was pretty well made, I think, maybe a little bit, could have been a little more accurate, frankly. But it's a story. We are not investing 10 cents. Don't forget, there's never been anybody that's been so tough on Iran,” the American leader said on the sidelines of the G7 Summit in France.

Earlier, Reuters noted that a framework agreement between the United States and Iran includes the creation of a $300 billion private investment fund, with more than half of the amount already secured by investor commitments.

The report said the financial mechanism would not involve government funding or grants, as the capital would come from the private sector. Investors would include companies from the United States, Gulf countries, Asia, South America, and Africa.

By Jeyhun Aghazada