The US-Iran ceasefire agreement obliges Washington and its allies to ensure financing of a USD 300 billion fund for Tehran. US President Donald Trump said this week that the Islamic Republic will need the money after “we blew them up”, writes CNN

US Vice President JD Vance said last week that the Iranians “could have access” to the fund, which he said would be funded by Gulf nations. But it’s unclear which Gulf states would participate, as none have publicly committed to it.

Speaking to Al Arabiya English, Saudi Foreign Minister Prince Faisal bin Farhan said that he has “no details” about the fund, but said that due to Iran’s attacks on Gulf states during the war, there has been “a significant loss of trust”.

“We were just in the beginning process of building our relationship with Iran as a result of the Beijing understanding… that was only really starting to gather momentum and potentially opening up on economic cooperation and things like that. I think we have since then regressed”, - he said, adding that trust has to be rebuilt before any kind of economic cooperation is discussed. “We are quite early days now.”

In a meeting with Trump on the sidelines of the G7 summit this week, Qatar’s Emir Sheikh Tamim bin Hamad Al Thani said there are likely to be “huge opportunities” in Iran after the agreement, but didn’t specifically comment on the fund. “I am sure there are going to be huge opportunities,” he said, adding that after negotiations Iran is going to be open to “all kinds of investments”.