Trump denies reports of paying Iran $300 million as part of peace deal

WASHINGTON: After much uncertainty and challenges, the US and Iran have reached an interim peace deal. Now, US president Donald Trump has denied reports that Iran will receive $300 million in reconstruction funds as part of the peace deal.

‘Iran has agreed to never have a nuclear weapon. In addition, the news that the US is giving Iran $300 million is a lie, Trump said on his Truth social platform. Reports circulated claiming that the memorandum included the release of Iran's frozen funds, sanctions relief, and a $300 million fund to help rebuild Iran if it complied with certain conditions. However, Iranian media reports that a final agreement on Iran's nuclear issue will be reached within 60 days of negotiations after the signing of the memorandum of understanding on June 19.

A copy of the memorandum of understanding has not yet been released. Vice President J D Vance informed that White House will release it this week itself. The mediators have been trying to broker a peace deal since the ceasefire came into effect on April 8. The talks have been hampered by US intransigence and Iran's insistence that it will not budge. The official signing function will be in Switzerland next week. President Trump or Vice President J D Vance are expected to attend.