A draft US-Iran agreement would support a $300 billion investment initiative as both sides prepare for 60 days of negotiations to end the conflict, according to multiple media reports on Tuesday.
US and Iranian officials are expected to sign the framework agreement in Switzerland on June 19, creating a roadmap for further negotiations aimed at permanently ending the war that began on Feb. 28 and imposing new restrictions on Iran's nuclear activities.
Under the draft memorandum, the agreement calls for ending the US naval blockade and restoring traffic in the Strait of Hormuz to pre-war levels within 30 days, according to reports.
The proposal includes a private investment fund of at least $300 billion to support Iran's economic development, with more than half of the financing already committed by companies from the US and its regional partners for projects spanning energy, logistics, manufacturing, and transportation.
In an emailed response to, a White House spokesperson referred to comments Vice President JD Vance made during a CBS interview on Monday.
"When people say that billions of dollars of assets will be released, that's not true," Vance reportedly told CBS News.
Responding to a question on whether Iran would have access to a proposed $300 billion reconstruction fund, Vance said, Iran "could have access to, funded by the Gulf Coast Coalition, so long as they honor their end of the obligation."
According to the media reports, the framework also envisions regional support through financing arrangements, credit facilities and reconstruction funding for damaged infrastructure, including steel facilities, refineries, airports and other assets affected by the conflict.
The draft agreement would eventually provide Iran access to its frozen assets, although no timeline has been established. Negotiations over sanctions relief and frozen sovereign assets are proceeding separately from the proposed investment fund, according to media reports.
Iran must satisfy several conditions before receiving the agreement's economic benefits. Those requirements include permanently forgoing nuclear weapons, addressing enriched nuclear material and maintaining freedom of navigation through the Strait of Hormuz, according to the reports.
The memorandum serves as a framework rather than a final settlement. The investment vehicle will not become operational until both sides conclude a satisfactory final agreement after the 60-day negotiation period, according to the reports.
The draft agreement also reportedly calls for ending the conflict across multiple fronts and provides for the eventual removal of US sanctions and a withdrawal of US forces from surrounding areas within 30 days of a final agreement.
Iran's Ministry of Foreign Affairs did not immediately respond to' request for comment.