The American official said the US will seek investments in Iran from other nations and the private sector. The Islamic Republic, with 90 million inhabitants and some of the world’s largest oil and natural gas reserves, desired the fund in the MOU for reconstruction. Iran claimed the Feb. 28 US-Israeli bombardment cost it over $250 billion in economic damage.

Iran claims the MOU will allow them to access tens of billions of dollars in frozen cash in Qatar. Trump and his team have repeatedly maintained the Islamic Republic will not receive financing or sanctions after signing the accord. They said that will come gradually if Tehran fulfills the pact.

Since Trump suggested an agreement was imminent late last week, oil prices have plummeted. Brent crude fell 3.6% to slightly around $80 on Tuesday, its fourth straight loss. It’s down from $125 in late April, when speculators expected the US and Iran to achieve an agreement rather than go to war.

Lower demand in China and the US and other nations reducing emergency petroleum stocks have also lowered prices. Once the strait opens, those reserves may need to be restored.

During the G7 on Tuesday, Trump lambasted Israel’s Hezbollah management and cited the crisis in Lebanon as a barrier to Iran discussions.”I advised Israel to let Syria handle Hezbollah,” Trump remarked. “I’m unhappy with Israel’s Lebanon and Hezbollah policy. The job should have been done faster. It drags down the Iran deal when it continues on indefinitely.”