In June 2026, as U.S. and Iranian officials announced they had reached an agreement to extend a ceasefire and work toward an end to the Iran war, a claim (archived) circulated online that U.S. President Donald Trump's administration would give Iran $300 billion.
Two X users who spread the claim simply wrote, repeatedly, "Trump is giving $300 billion to Iran."
The text of the U.S.-Iran memorandum of understanding, as shared (archived) by Iran's President Masoud Pezeshkian on June 18 and reported in western media, does not state that the U.S. would "give" money to Iran. Instead, it says that the U.S. and regional partners would develop a plan committing at least $300 billion for the "reconstruction and economic development" of Iran.
U.S. Vice President JD Vance suggested in interviews with CBS and Fox News on June 15, 2026, that other countries could eventually finance the fund for Iran rather than American taxpayers. Iran's access to such a fund would depend on its adherence to terms of a new memorandum of understanding, he added.
Citing anonymous sources, credible news outlets such as The Financial Times and Reuters reported that companies, rather than governments, would finance such a reconstruction fund. Snopes could not independently verify these reports.
The memorandum of understanding said U.S. and Iranian officials would decide how the $300 billion reconstruction plan for Iran would be implemented within 60 days after both countries signed the agreement. However, since it was still unclear where the money to finance the plan would come from, we leave this claim unrated.
According to Pezeshkian and CNN, who both reported identical versions of the U.S.-Iran memorandum of understanding, the agreement read:
The United States of America undertakes with regional partners to develop a definitive, mutually agreed plan with at least USD 300 billion for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for the implementation of this plan will be finalized as part of a final deal within 60 days. All required licenses, waivers and permissions needed for the relevant financial transactions will be granted by the United States of America.
It was unclear when the $300 billion claim started circulating. Alleged leaks of the agreement text, which mentioned a $300 billion fund for Iran, circulated online around June 14. On June 12, days before the U.S. and Iran announced they reached an agreement to extend the ceasefire and work toward ending the war, Vance dismissed (archived) "fake information" that Iran would get money or have frozen funds released "for simply signing a deal or attending a meeting."
'Not a dime' of taxpayer money for Iran, Vance says
On June 15, Vance provided more details about the agreement between the U.S. and Iran.
He told CBS Mornings' Ed O'Keefe that a $300 billion reconstruction fund for Iran was "the sort of thing they could have access to, funded by the Gulf Coast Coalition, so long as they honor their end of the obligation" (time code 2:02).
He did not say that the U.S. government would commit any money to the fund.
Vance may have been referring to the Gulf Cooperation Council when he said "Gulf Coast Coalition." The council is a political, economic and military alliance of six Middle Eastern countries: the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait.
Snopes contacted Vance's office to clarify whether Vance meant to refer to the Gulf Cooperation Council during his CBS Mornings appearance. We also contacted the council to ask if they could confirm a plan to fund reconstruction in Iran. We await replies to our queries.
The vice president further said that the U.S. was open to the Gulf Coast countries — not the U.S. — "investing in the reconstruction of Iran" if (time code 2:27):
Iran ends their nuclear program, ends their enriched stockpile of material, and is really open to an inspections and enforcement regime that gives the American people confidence they're never going to have a nuclear weapon.
Later, while speaking to Fox News' Sean Hannity, Vance said Iran would "never get a dime of American taxpayer money ever. Full stop, not even close."
Vance said of the U.S-Iran deal (time code 5:48):
The agreement says they are not getting a single dime of American money, that's just not what this is. What the agreement does say, Sean, is, again, if the Iranians behave, and if there are sanctions relief and if the Iranians are integrated into the world economy, we would invite other countries, not us but other countries, to invest in their country. That's fine, but only if they comply with the terms of the agreement.
The Financial Times and Reuters reporting repeated Vance's point that Iran's access to such a fund would depend on whether the country adhered to terms laid out in the memorandum of understanding or a full peace deal. Snopes does not rely on anonymous sources and could not independently verify these reports.
On June 15, Vance told ABC News (time code 2:16) that the Trump administration would release the text of the memorandum "this week" adding, "and what everybody will see is that Iran doesn't get a dime of money unless they perform their obligations." U.S. officials reportedly read out the text of the agreement to select reporters on June 17. Pezeshkian released what appeared to be a copy of the agreement carrying his and Trump's signatures the next day.
For further reading, Snopes has previously investigated whether former U.S. Presidents Joe Biden or Barack Obama released funds for Iran.