ERBIL, Kurdistan Region of Iraq – US Vice President JD Vance on Monday said Iran could get access to a massive $300 billion reconstruction fund under the recently announced agreement, emphasizing that Tehran’s eligibility for the fund is dependent on its willingness to halt its nuclear program and comply with the agreement’s terms.

Asked by CBS News about reports that Iran is requesting $300 billion in reconstruction funds, Vance said, “That's the sort of thing they could have access to funded by the Gulf Coast coalition so long as they honor their end of the obligation.”

The vice president further noted that the “hardliners” within the Iranian leadership overemphasize the benefits they are expected to receive and underemphasize what they have to concede and provide in order to gain access to such benefits.

He added that Washington is “open” to Gulf states investing in Iran’s reconstruction, “but only if Iran ends their nuclear program.”

Reparations have been one of the key demands of Iranian officials in negotiations with the American side. It has been routinely highlighted by Iranian officials following the ceasefire announcement in April.

Iran and the US reached a peace deal early Monday, Pakistani Prime Minister Shehbaz Sharif announced, adding that the accord, which seeks a permanent end to the conflict, will be signed in Geneva on Friday.

US President Donald Trump and Vice President JD Vance both electronically signed the recent MoU with Iran, while Iranian parliament speaker and top negotiator Mohammed Bagher Ghalibaf signed the accord on behalf of Tehran, Axios said, citing a US official.

Meanwhile, Iranian Foreign Minister Abbas Araghchi said that the MoU between the heads of US and Iranian negotiating delegations will “probably” be signed Friday in Switzerland, the semi-official Tasnim news agency reported.

French President Emmanuel Macron hailed the US-Iran deal as "very important" during a meeting with his US counterpart Donald Trump, on the sidelines of a G7 summit. "It will fix the nuclear issue, and it is a very important matter for peace for the whole world," Macron said.

In the meeting, the US president said that the Strait of Hormuz will be "completely open" on Friday.