ERBIL, Kurdistan Region of Iraq – US President Donald Trump said on Tuesday that Washington will not invest “any money” in Iran, a day after Vice President JD Vance said Tehran could have access to around $300 billion in reparation funds from Gulf states.

“We appreciate the relationship we’ve had over the short period of time with Iran,” the US president said in a meeting with Qatari Emir Tamim bin Hamad Al Thani on the sidelines of the G7 leaders’ summit in France.

“We are not investing any money” in Iran, he added, addressing reports of potential reparation funds requested by Tehran.

On Monday, when asked about reports that Iran is requesting $300 billion in reconstruction funds, Vance said that “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,” referring to the newly announced peace deal.

In a post on Truth Social on Monday, Trump said that “the story that the [US] is paying Iran 300 million Dollars is Fake News, put out by the Dumocrats!!!”

Vance said in an interview with Fox News later on Monday that Iran is “not getting a single dime of American money,” clarifying that the US will invite other countries to invest in Iran “if the Iranians behave” and “comply with the terms of the agreement,” though Washington itself will not.

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.

Reparations have been one of the key points repeatedly brought up by Iranian officials in negotiations with the Americans. It has been routinely highlighted by Tehran following the ceasefire announcement in April.

Trump said that the new Iranian authorities are “smarter than the first and second group,” which he claims were eliminated during the regional unrest in March, asserting they are “not radicalized.”

He stated that Iran has agreed to never possess a nuclear weapon, “that’s the reason I got in [the conflict], and that’s the reason I agreed to sign [the peace deal].”

The official implementation of the memorandum of understanding (MoU) between the two countries is scheduled to begin on Friday, Iranian Foreign Minister Abbas Araghchi said on Tuesday.