US President Donald Trump and his team are quietly attempting to persuade Gulf states to finance the reconstruction of Iran following a potential agreement aimed at ending the war launched by Washington and Tel Aviv against Tehran in February, according to a report by The New York Times.
The newspaper reported on Friday that Iran demanded, as part of a preliminary agreement this week, access to US$24 billion in frozen Iranian assets, with half of the amount to be transferred immediately upon the signing of a memorandum of understanding.
Gulf States Consider Reconstruction Fund
According to the report, Trump’s opposition to direct financial transfers to Iran has led his team to explore alternative mechanisms that would allow other countries, including Qatar, to facilitate the transfer of funds to Tehran.
The newspaper stated that Trump and his advisers are working quietly to convince Gulf countries to support Iran’s reconstruction efforts, as Tehran seeks compensation for war-related damage.
It added that Gulf states are reportedly discussing the creation of a US$300 billion investment fund dedicated to financing reconstruction projects in Iran.
White House Reaffirms US Conditions
Meanwhile, the White House said that President Trump intends to secure an agreement with Iran that serves only US interests and remains within Washington’s established red lines.
The remarks were made by a White House official on Friday in response to questions regarding a national security meeting focused on developments surrounding negotiations with Iran.
The official, who spoke on condition of anonymity, said the meeting lasted approximately two hours and reiterated that Trump would pursue an agreement that aligns with US priorities and strategic conditions, without providing further details.
Background to the Conflict
Washington and Tel Aviv launched military operations against Iran on 28 February. Tehran responded with attacks targeting Israeli sites as well as what it described as American interests across several Arab countries.
A temporary ceasefire was later reached on 8 April.
In March, Iran announced the closure of the Strait of Hormuz and declared that vessels would not be permitted to pass through the strategic waterway without prior coordination with Tehran, describing the move as a response to US and Israeli aggression.
The United States subsequently imposed a blockade on Iranian ports beginning on 13 April, including facilities located along the Strait of Hormuz, a key artery for global energy supplies.
Final Negotiations Underway
More recently, Trump announced that negotiations with Tehran had been completed on most major issues, with only the final arrangements remaining under discussion with Iran and several countries across the Middle East.
According to previous statements, the proposed agreement is expected to include provisions related to reopening the Strait of Hormuz alongside other outstanding matters.
