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Iran could have access to up to $300 billion in reconstruction funds if it adheres to a peace agreement it recently struck with the U.S., according to Vice President JD Vance and multiple<\/a> reports<\/a>, though official terms of the deal remain scarce as President Donald Trump has seemingly denied the payout as \u201cfake news.\u201d<\/p>\n The agreement between the U.S. and Iran will be signed Friday. (Photo by Jakub Porzycki\/NurPhoto via Getty Images)<\/p>\n NurPhoto via Getty ImagesKey Facts<\/p>\n Vance told CBS News<\/a> on Monday the $300 billion reconstruction fund was \u201cthe sort of thing they could have access to, funded by the Gulf Coast Coalition, so long as they honor their end of the obligation.\u201d<\/p>\n Trump said Monday \u201cthe story that the U.S. is paying Iran 300 million Dollars is Fake News, put out by the Dumocrats,\u201d adding Iran \u201chas agreed to never have a Nuclear Weapon!\u201d<\/p>\n Reports from Reuters<\/a> and Bloomberg<\/a> have said the $300 billion fund is real, with the former outlet reporting that \u201cmore than half that sum has already been committed\u201d and the \u201cfund is designed to give both sides an economic incentive to conclude a final deal.\u201d<\/p>\n Reuters, citing a source Tuesday with knowledge of the deal, reported it is a \u201cprivate fund designed \u200bto trigger investment into Iran.\u201d<\/p>\n What To Watch For<\/p>\n The U.S. and Iran are scheduled to sign the peace agreement on Friday in Switzerland.<\/p>\n What Else Is Known About The U.S.-Iran Peace Deal?<\/p>\n The U.S. and Iran have continuously appeared split on their interpretations<\/a> of the deal, which will establish a 60-day period for negotiations. The talks during that time will likely revolve around thornier subjects like Iran\u2019s nuclear program. In addition to the reported $300 billion fund, the deal signed this week will also extend the ceasefire between the U.S. and Iran and open the Strait of Hormuz, the crucial oil shipping route both countries have enacted blockades on. <\/p>\n Key Background<\/p>\n Trump has justified the war in Iran by claiming the country was close to developing a nuclear weapon, though the president said Tuesday that Iran\u2019s enriched uranium is not \u201cvery valuable stuff, but I think psychologically we want to get it.\u201d Iran has officially maintained it is not seeking to build nuclear weapons, which will almost certainly be a matter of discussion during the 60-day negotiation period. Iranian Foreign Minister Abbas Araghchi has said the pending peace agreement does not include new assurances about his country\u2019s nuclear program. As many details have yet to be officially ironed out, Trump faced backlash from allies<\/a> when he said the agreement was close to completion last month. <\/p>\n Further Reading<\/p>\n