The decision on the 300 billions Dirham fund for Iran remains unresolved, as trust issues among Gulf countries hinder their contributions.

⑴ According to a CNN report, under the framework of the US-Iran ceasefire agreement, the United States and its allies are obligated to ensure the provision of a fund for Tehran of up to 300 billion US dollars. ⑵ Trump mentioned this week that Iran needs these funds for post-war reconstruction, while Vice President Vance stated last week that Iran "may receive" support from this fund and clearly indicated that the Gulf countries would be the contributors. ⑶ However, so far, no Gulf country has publicly committed to providing funds. Saudi Foreign Minister Faisal said in an interview on Wednesday that he was "not aware" of the specifics of the fund. ⑷ Faisal also pointed out that, due to Iran launching attacks on Gulf countries during the war, there is now a "serious lack of trust" between the parties, emphasizing that trust must be rebuilt before discussing any form of economic cooperation. ⑸ Given that the Saudi side currently describes this stage as "very early," there remains significant uncertainty regarding the eventual size of the fund, the list of donor countries, and the conditions for allocating the funds. This will continue to affect geopolitical risk pricing in the Middle East and sentiment in the international oil market.