President Donald Trump pushed back hard against a Financial Times report claiming his administration was supporting a massive $300 billion reconstruction fund for Iran, labeling the story “fake news” while affirming that Tehran had committed to giving up its pursuit of nuclear weapons.
According to the Financial Times, the proposed fund could be created if Iran agrees to the terms laid out in a memorandum of understanding designed to end hostilities and reach a nuclear deal. The report described the fund as being financed mainly through private investors and international partners — not directly by U.S. taxpayer dollars — though it would carry the backing of the Trump administration.
Trump fired back on social media, dismissing the story and pointing the finger at what he called “Dumocrats” — an apparent jab at Democrats.
“Iran has agreed to never have a Nuclear Weapon! Also, the story that the U.S. is paying Iran 300 million Dollars is Fake News, put out by the Dumocrats!!!” he wrote.
Notably, Trump’s post referenced “300 million Dollars,” while the Financial Times report cited a figure of $300 billion — a significant discrepancy. The original report also never stated the money would come directly from the U.S. government, describing instead a privately and internationally financed structure.
The controversy unfolded shortly after Trump announced that the United States and Iran had reached an agreement to resolve their conflict. He then headed to the G-7 summit in Évian-les-Bains, France, where he expressed optimism about the deal and indicated further talks would be needed.
“We have our deal done with Iran, and it should be successful, it goes to a second stage, which I think would be actually easier,” Trump told reporters at the summit.
He characterized the agreement as serving as “a wall to a nuclear weapon” for Iran.
Pakistani Prime Minister Shebaz Sharif indicated that the proposal is expected to move toward a formal signing ceremony on Friday in Geneva.
