US-Iran deal includes new investment fund, separate track for frozen assets: Reuters
Key takeaways
- 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.
- Investments pledged span energy, logistics, manufacturing and transport, the source said.
- A senior Iranian source told Reuters that Tehran had originally sought $400 billion as compensation for war damages from the U.S. but Washington had said it would not provide it.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize DUBAI, June 16: A $300 billion private fund designed to trigger investment into Iran is outlined in the US-Iran deal 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, 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.
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.