At G7, Trump unveils $300 billion Iran fund, extends ceasefire to Lebanon

Vice President JD Vance is expected to attend an in-person signing ceremony scheduled for Friday.

By Vered Weiss, World Israel News

President Donald Trump said at the G7 that the United States and Iran could sign a 14-point agreement as early as Friday, warning that U.S. forces would resume bombing Iran if negotiations on a final deal fail, while U.S. officials released details of the accord that includes oil-export waivers, a commitment that Iran will never develop nuclear weapons, and a proposed $300 billion reconstruction fund.

Trump said the agreement is expected to be signed “shortly” but cautioned that it remains incomplete.

“If they don’t behave, we’ll go right back to dropping bombs right smack in the middle of their head, OK?” Trump said.

The released agreement states that Iran will “never produce nuclear weapons” and calls for the United States to issue waivers allowing Iranian oil exports once the accord is signed.

The 14-point text also establishes a $300 billion fund for the “reconstruction and economic development” of Iran. The fund would be developed by the United States and regional partners during the next phase of negotiations, although the agreement does not require any U.S. financial contribution.

Vice President JD Vance is expected to attend an in-person signing ceremony scheduled for Friday.

The agreement further states that the United States and Iran “commit to negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent,” setting a framework for follow-up negotiations.

In addition, the document declares the “immediate and permanent termination of military operations on all fronts, including in Lebanon.”

The Lebanon provision comes as Israel has continued carrying out strikes against Hezbollah. Trump said the United States has sent a copy of the agreement to Israel and criticized Israel’s actions against Hezbollah in Lebanon.

Trump also stressed that the agreement is “not final,” despite expectations that it could be formally signed Friday.

U.S. officials released the text of the agreement as preparations continue for the anticipated signing ceremony. The accord outlines commitments on Iran’s nuclear program, oil exports, regional military activity and economic reconstruction while establishing a timeline for negotiations on a broader final agreement.