1 hr. ago
By Andrew Mills, Maha El Dahan and Parisa Hafezi
DUBAI, June 16 (Reuters) - A $300 billion private fund designed to trigger investment into Iran is outlined in the U.S.-Iran framework agreement and more than half that sum has already been committed, a source with direct knowledge of the deal told Reuters.
The fund is designed to give both sides an economic incentive to conclude a final deal to end the war, said the source, who spoke on condition of anonymity because the plan has not yet been announced as Washington and Tehran prepare to sign on Friday.
The fund's existence has been previously reported but Reuters is revealing for the first time that more than half of the amount has already been committed and that it will be comprised entirely of private-sector funds.
U.S. and Iranian officials said on Sunday they had agreed on a framework to end their war, which began when U.S. and Israeli forces attacked Iran on February 28, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a key supply route for global oil and gas.
DUBAI, June 16 (Reuters) - A $300 billion private fund designed to trigger investment into Iran is outlined in the U.S.-Iran framework agreement and more than half that sum has already been committed, a source with direct knowledge of the deal told Reuters.
The fund is designed to give both sides an economic incentive to conclude a final deal to end the war, said the source, who spoke on condition of anonymity because the plan has not yet been announced as Washington and Tehran prepare to sign on Friday.
The fund's existence has been previously reported but Reuters is revealing for the first time that more than half of the amount has already been committed and that it will be comprised entirely of private-sector funds.
U.S. and Iranian officials said on Sunday they had agreed on a framework to end their war, which began when U.S. and Israeli forces attacked Iran on February 28, halt the U.S. blockade of Iran and reopen the Strait of Hormuz, a key supply route for global oil and gas.
