Gulf states leader says $300B Iran reinvestment fund is news to him
The issue of a $300 billion fund to rebuild Iran did not come up in meetings between US Secretary of State Marco Rubio and Gulf ministers in Manama, Gulf Co-operation Council Secretary General Jasem Al Budaiwi has said.
“It was not introduced to me nor to other GCC countries. We don’t know anything about it,” Mr Al Budaiwi told On the Record with Hadley Gamble in an exclusive interview in Bahrain. “We did not discuss it.”
Despite reports suggesting Gulf states are to foot the bill for a key piece of US President Donald Trump’s deal with Tehran, Mr Al Budaiwi said he was unaware of any details. “We really don’t know anything about it,” he added.
The idea of using economic diplomacy as an incentive for good behaviour from Tehran is not new. Mr Al Budaiwi referenced 2024 talks between the GCC and the Iranian government when investment, connectivity and digitalisation were all on the table. Those conversations have not been restarted, he said, but the door has been left open in principle.
“If we have a normal relationship with Iran or any other country, then we are open to investment,” he said.
Tagged: Middle East BACK TO HOMEPAGE