The United States has agreed to work with regional partners to "create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Iranian regime, while ensuring financing of at least $300 billion," according to a reported draft of the 14-point US-Iran Memorandum of Understanding shared by Al Arabiya on Tuesday.
According to Reuters, the fund is a private investment vehicle, not a reconstruction or reparations program, and will not include any government money or grants. Companies based in the US, Gulf, Asia, South America, and Africa have all agreed to commit financing.
The fund will reportedly assist in fields such as energy, logistics, manufacturing, and transport. Additionally, it is said to be entirely different from the sanctioned $24 billion, which is discussed in a separate point of the document.
Additionally, Israel is not mentioned in the MOU, despite the first point calling for "an immediate and permanent end to the war on all fronts, including Lebanon."
The reported draft focuses primarily on the end of the ongoing conflict, the reopening of the Strait of Hormuz, and the release of all funds currently sanctioned by the US.
This comes after Israel was denied permission to view a draft of the memorandum ahead of the signing ceremony, currently scheduled to be held this Friday in Switzerland.
The plan shared by Al Arabiya also does not specify the fate of Iran's nuclear materials, stating that "the fate of all other mutually agreed nuclear-related issues, including Iran’s nuclear needs, will be adequately addressed in a final agreement."
US commits to contribute to rehabilitation of Iranian regime, financing of at least $300 billion
The US has also agreed to work with regional partners to "create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Iranian regime, while ensuring financing of at least $300 billion."
Most notably, perhaps, is the penultimate point, stating that until a final agreement is reached, both the Islamic Republic of Iran and the United States will maintain the "status quo," allowing the Iranian regime to "maintain the status quo on its nuclear program," while the US is not permitted to impose sanctions on Iran or strengthen its forces in the regime.
Neither the US nor Iran has confirmed the validity of this draft.
Reuters contributed to this report.