According to the draft agreement announced by Iranian state media, Iran requests the US to spend 300 billion USD to end the conflict and reopen the Strait of Hormuz. However, Tehran will not give up control of this strategic waterway route.
The document appeared in the context of many speculations that US Vice President JD Vance may visit Geneva to sign an agreement ahead of the G7 summit scheduled to take place next week in France.
According to sources, this is just a memorandum of understanding (MOU), i.e. a commitment to continue negotiations, not yet a complete peace agreement.
On June 12, Mehr news agency announced a draft memorandum calling on the US and its allies to compensate Iran for the damage caused by the fighting, and at the same time "put forward plans to rebuild Iran with a total value of at least 300 billion USD".
This reconstruction fund will depend on reaching a final agreement to end Iran's nuclear program and Tehran's acceptance of opening up to US investment. This means the US will have to lift sanctions against Iran.
However, this possibility only occurs if the two sides reach a nuclear agreement, an agreement on limiting ballistic missiles and the US removes the listing of the Iranian Islamic Revolutionary Guard Corps (IRGC) on the list of terrorist organizations.
According to the draft, fighting will end on all fronts, including Lebanon. Iran will also be freed of 24 billion USD of frozen assets, and the two sides have 60 days to negotiate Tehran's nuclear program.
The document also mentions "suspending sanctions against Iran's oil and petrochemical sales" as well as "fully lifting the US naval blockade" on Iranian ports, which has been imposed since April 13.
However, on June 12, US President Donald Trump rejected the version of the agreement announced by Iranian media. On the same day, Foreign Minister Abbas Araghchi also said that the information circulating about the content of the agreement should not be considered a final document.
In other developments related to money for Iran, information spread that the United Arab Emirates (UAE) has transferred billions of USD to Iran.
Two regional sources said that the UAE has agreed to disburse a total of 10 billion USD, of which more than 3 billion USD has been transferred. Two other sources said that the total amount involved is up to 20 billion USD.
The agreement is said to have been set up in exchange for Iran ending missile and drone attacks on the UAE.
However, it is not clear whether this amount is UAE money or Iranian assets that have been frozen in the UAE banking system or in other locations.
A UAE official said that Abu Dhabi's goal is to reduce regional tensions and promote stability.
On June 12, the UAE denied information about disbursement or transfer of Iran's frozen assets.
The UAE Foreign Ministry issued a statement "resolutely rejecting" allegations that the country has "liberated, transferred or moved" frozen assets owned by Iran. The Ministry emphasized that the above information is "untrue and not based on any reliable data or sources".
