US-Iran deal: Inside $300 billion reconstruction framework

The United States and Iran signed an agreement on Wednesday (Jun 17) to end the war in the Middle East, which had been going on for over three months.

In a major development, the US-Iran agreement outlines a sweeping framework aimed at creating a “long-term reconstruction and economic development program for Iran” worth at least $300 billion.

The Memorandum of Understanding (MoU) notes that the framework to deploy these funds will be finalised within a 60-day window as a part of the final deal.

“The United States of America undertakes with regional partners to develop a definitive mutually agreed plan with at least $300 billion for the reconstruction and economic development of the Islamic Republic of Iran,” the deal said.

“The mechanism for the implementation of this plan will be finalised as part of a final deal within 60 days. All required licenses, waivers, and permissions needed for the relevant financial transactions will be granted by the United States of America,” it stated.

The United States and Iran signed an agreement on Wednesday (Jun 17) to end the war in the Middle East, which had been going on for over three months.

US President Donald Trump formally signed the deal while attending the G7 summit in Evian-les-Bains in France.

Access to frozen assets

The document also notes that Washington will give access to Iran’s frozen or restricted funds and assets once the MoU is implemented. It mentions that during negotiations, the two countries will mutually agree on the procedures related to the release of these funds.

“The United States of America undertakes to make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this MOU. The United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during the negotiations,” the MoU said.

It stated that the funds, whether retained in the original account or transferred, should be made usable for payments to any person, company, institution, or entity that the Central Bank of the Islamic Republic of Iran designates as the recipient.

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In a major development, the US-Iran agreement outlines a sweeping framework aimed at creating a “long-term reconstruction and economic development program for Iran” worth at least $300 billion.

The Memorandum of Understanding (MoU) notes that the framework to deploy these funds will be finalised within a 60-day window as a part of the final deal.

“The United States of America undertakes with regional partners to develop a definitive mutually agreed plan with at least $300 billion for the reconstruction and economic development of the Islamic Republic of Iran,” the deal said.

“The mechanism for the implementation of this plan will be finalised as part of a final deal within 60 days. All required licenses, waivers, and permissions needed for the relevant financial transactions will be granted by the United States of America,” it stated.

The United States and Iran signed an agreement on Wednesday (Jun 17) to end the war in the Middle East, which had been going on for over three months.

US President Donald Trump formally signed the deal while attending the G7 summit in Evian-les-Bains in France.

Access to frozen assets

The document also notes that Washington will give access to Iran’s frozen or restricted funds and assets once the MoU is implemented. It mentions that during negotiations, the two countries will mutually agree on the procedures related to the release of these funds.

“The United States of America undertakes to make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this MOU. The United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during the negotiations,” the MoU said.

It stated that the funds, whether retained in the original account or transferred, should be made usable for payments to any person, company, institution, or entity that the Central Bank of the Islamic Republic of Iran designates as the recipient.