The Trump administration is exploring a $300bn international investment fund for Iran, contingent on Tehran’s commitment to a comprehensive nuclear and ceasefire agreement, the Financial Times reported. The fund, financed by private companies rather than governments, would channel capital into Iran’s energy sector and its 90-million-strong market. The proposal is part of incentives tied to a memorandum of understanding expected to be signed in Switzerland on Friday, extending a ceasefire by 60 days, reopening the Strait of Hormuz, and paving the way for further nuclear talks.

In Washington, the disclosure sparked immediate political friction. Senate Democratic leader Chuck Schumer demanded President Trump immediately share the full details with Congress, warning that “the devil is in the details” and insisting the administration must “end this war once and for all.” Trump, on Truth Social, denied the US would pay Iran $300bn, a statement consistent with the FT’s reporting that the fund would be privately sourced. The exchange highlights congressional unease over executive agreements that bypass legislative scrutiny, especially those involving sanctions relief.

From a regional perspective, the fund is inseparable from security guarantees. The memorandum reportedly includes a 60-day ceasefire extension and a commitment to reopen the Strait of Hormuz, the chokepoint for a fifth of global oil. For Tehran, the prospect of unlocking international investment after years of sanctions offers a powerful incentive, though hardliners have historically resisted economic entanglement with the West. Iranian officials have yet to comment publicly.

European and Asian business circles have already expressed interest, according to the FT, with companies from South Korea, Japan, and across Europe monitoring the diplomatic track. Analysts in London note that a privately financed fund could partially insulate the initiative from congressional opposition, but its viability depends on durable sanctions relief. Any snapback of restrictions, as occurred after the 2015 nuclear deal, would render the fund unworkable.

The coming days will test whether the memorandum represents a genuine breakthrough or a tactical pause. Schumer’s demand for transparency reflects a determination to avoid a repeat of the Obama-era accord, which was negotiated without legislative approval and later abandoned by Trump himself. The fund’s fate hinges on Tehran’s adherence to the ceasefire and nuclear commitments, but also on the White House’s ability to manage a sceptical legislature and reassure wary regional allies. For now, the details remain hidden, and with them, the true shape of any emerging bargain.