Immediate Oil Exports, $300 Bn Development Fund: What US Offers Iran For Peace

Iran is poised to receive significant economic benefits under a proposed peace agreement with the United States, including immediate permission to sell oil, access to a development fund worth at least $300 billion, and the eventual release of frozen assets.

Bloomberg reported that the agreement document outlines a framework aimed at easing tensions, ending hostilities and placing fresh restrictions on Iran’s nuclear activities.

The agreement, reached in principle on Sunday, is expected to be formally signed in Switzerland on June 19. Following the signing, both sides are expected to enter a 60-day negotiation period to finalise a broader settlement intended to permanently end the conflict.

The US has already begun sharing the draft with allied countries attending the Group of Seven (G7) summit in France. However, some technical details remain under negotiation and the wording may still be revised before the signing ceremony, as per the Bloomberg report.

Oil Exports, Hormuz and Economic Recovery

Under the proposed terms, the US Treasury Department would immediately issue waivers permitting exports of Iranian crude oil, petrochemical products and related derivatives once the memorandum is signed.

The draft also envisages the lifting of the US naval blockade and restoring shipping activity through the Strait of Hormuz to pre-war levels within 30 days.

The document further proposes a joint US and regional partner initiative to support Iran’s economic rehabilitation. The framework includes financing commitments of at least $300 billion, although details regarding the source and structure of the funding remain unclear.

The draft also states that Iran’s frozen assets "will be released and made fully available", though no timeline has been specified.

Trump Faces Political Scrutiny

US President Donald Trump described the agreement as a “done deal” and said it would prevent Iran from acquiring nuclear weapons. Speaking at the G7 summit, he rejected suggestions that Washington would directly fund Iran or pay compensation related to the conflict.

"Tehran’s leaders have to prove themselves, I think, before any of us go in there," Trump said, the report said.

The possibility of a payout poses political risk for Trump, who had scrapped the US-Iran 2015 accord under then US President Barack Obama.

The agreement has drawn criticism from some Republican figures and Iran hawks.

"If this is true, Iran wins. There should be zero sanctions relief day one," Nikki Haley, former US Ambassador to the United Nations, wrote on X (formerly Twitter).

Lebanon, Nuclear Weapons, Lifting US Sanctions

The proposed deal also calls for a broader end to hostilities, including in Lebanon, and envisages the eventual removal of US sanctions and military forces from the region as part of a final settlement.

The draft requires Iran to reaffirm that it will never pursue a nuclear weapon, neutralise enriched nuclear material and ensure free navigation through the Strait of Hormuz, as per BBG.

However, the document leaves unresolved questions regarding Iran’s existing stockpile of enriched uranium, stating only that the issue will be addressed during final negotiations.