As the United States and Iran signed a memorandum of understanding (MOU) to end the war, controversy is growing as the funding for Iran's reconstruction fund, reportedly worth $300 billion (about 453 trillion won), is being pursued in a way that effectively makes other countries shoulder the cost.
According to Reuters and others on the 16th local time, the MOU signed by the United States and Iran includes creating a $300 billion private investment fund that Iran can use. Corporations in the United States, Asia, the Middle East, South America and Africa are already said to have agreed to raise more than $150 billion.
Sources said the fund is designed as a "private investment vehicle" and is different in nature from typical reconstruction aid or war compensation programs. They also said no U.S. government budget or subsidies will be used. Corporations in Korea, Japan, Singapore, Malaysia and the United States were mentioned as having pledged capital, but no specific list was released.
U.S. Vice President JD Vance effectively acknowledged the existence of the $300 billion fund in recent remarks. President Trump emphasized that no U.S. government money is going into the funds. Because terms like "compensation" or "reconstruction fund" could make the United States look like a defeated country, some interpret the Trump administration as putting forward the appearance of a private investment fund.
However, regardless of the name, the fact that the fund will be formed mainly by U.S. allies and overseas corporations, including Gulf states, could become a source of controversy. That is because, after the United States went to war with Iran without sufficient consultation with the countries involved, it could appear to be shifting the burden of raising funds that could be interpreted as compensation onto other countries and corporations.
In the United States, there are also concerns that the Trump administration is effectively moving to pre-compensation before confirming Iran's denuclearization results. President Trump has repeatedly emphasized that Iran agreed not to develop or possess nuclear weapons, but confidence that this will be carried out in practice is not high in the United States or the international community.
Iran's intent to denuclearize can only be verified through concrete steps such as how to handle highly enriched uranium, the duration of a halt to uranium enrichment, the scope of dismantling nuclear facilities, and whether it will accept inspections by the International Atomic Energy Agency (IAEA) and the broader international community. However, full-fledged nuclear talks to discuss these issues are scheduled to begin only after the MOU is formally signed.
The United States has argued that easing sanctions on Iran should proceed step by step under the principle of "action for action," matching the level of implementation of abandoning nuclear arms. But U.S. media are already reporting that during the 60-day period of nuclear negotiations after the MOU is signed, the United States will waive existing sanctions to allow Iran to sell crude oil and petroleum products.
Among hard-liners in the Republican Party, there is considerable backlash that "under no circumstances should Iran, long designated a state sponsor of terrorism, have its funding taps opened, no matter whose money it is." Mark Thiessen, a conservative commentator known as a close ally of President Trump, criticized, "In any situation, providing $300 billion to Iran is a disaster," adding, "It is no different from providing a Marshall Plan for reconstruction to Germany under Nazi rule."