Iran to get $300bn if it gives up nuclear fuel, JD Vance suggests ahead of deal signing
Financial support will depend on compliance with "obligations" under peace agreement
Iran could have access to a $300bn (£220bn) recovery fund if it agrees to give up its stockpile of uranium.
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US Vice President JD Vance said Iran would have a "much more prosperous future" under the the agreement that was announced on Sunday - but that this would depend on whether it complied with the terms around its nuclear programme.
Mr Vance told CBS News the $300bn reconstruction fund was "the sort of thing they could have access to so long as they honour their end of the obligations".
On Monday morning President Donald Trump celebrated the singing of a peace deal between the US and Iran, writing on Truth Social on Monday: "Ships of the World, start your engines. Let the oil flow!"
The US has not released the terms of the deal, which is set to be published this week.
Read more: US and Iran agree peace deal, as Trump declares ‘Let the oil flow!’
Read more: Strait of Hormuz must stay open, says Starmer after Trump announced Iran-US peace deal
US and Iranian officials say the deal could eventually deliver substantial economic benefits to Iran by lifting sanctions, unfreezing foreign assets, and setting up a $300 billion reconstruction fund, paid for by neighboring Gulf allies.
Speaking on condition of anonymity, US officials said Iran would have to satisfy US demands never to build a nuclear weapon and cut off support for proxy militias like Hezbollah in order to get those benefits.
On Monday Iran's Revolutionary Guard said the agreement stipulated that the country will receive $24 billion in released frozen assets during the 60-day negotiation period.
US Vice President JD Vance brushed off the claim, denying that that Iran would receive "billions of dollars of assets". He told CBS News that the US was "willing to talk about unfreezing" assets but that the "much, much bigger deal is unsanctioning their economy — so long as they make the long-term commitments on the nuclear program".
US President Donald Trump announced on Monday that an initial memorandum to end the war has already been signed by the United States and Iran.
The agreement would reopen the blockaded Strait of Hormuz and extend a ceasefire for 60 days, allowing negotiators to tackle difficult issues like the future of Iran's nuclear program.
The parallel war between Israel and the Iran-backed Hezbollah militia in Lebanon, which has uprooted 1.2 million people, remains unresolved.
Iran has said the deal requires a full cessation of hostilities there, but Israeli Prime Minister Benjamin Netanyahu said that Israel would keep its forces in southern Lebanon and would retain the right to respond to Hezbollah attacks.
"Iran wanted us to withdraw from it, but I stood firm," he said at a news conference, where he acknowledged that he and Trump have had their differences over the conflict.
A U.S. official said Israeli withdrawal from Lebanon was not a condition of the deal.
Lebanese state media reported that an Israeli drone struck a car in the southern Lebanese town of Kfar Tebnit, killing the driver. Netanyahu said Israeli forces had killed four "militants."
Iranian Foreign Minister Abbas Araqchi said Israeli attacks must stop immediately.Privately, Israeli officials' views of the deal have been negative.
One senior official told Reuters on condition of anonymity that the agreement was "terrible for Israel," and that this assessment was shared throughout the government from Netanyahu on down.