The Trump administration is finalizing a peace agreement with Iran aimed at ending ongoing conflicts in the region, although key details remain closely guarded and some lawmakers have expressed skepticism. U.S. and Iranian officials are expected to sign the deal on Friday in Geneva, following several weeks of intense negotiations.

According to officials familiar with the memorandum of understanding (MOU), the document is less than two pages long and includes broad provisions for unfreezing Iranian assets and the establishment of a potential $300 billion investment fund. This fund, which might be composed of frozen Iranian assets and investments from Gulf states, would tie Iran’s access to meeting performance benchmarks, primarily focused on its nuclear program and regional behavior.

A senior U.S. official, speaking on the condition of anonymity, stressed that Tehran’s ability to tap into the investment fund would depend on “making themselves investable” and ceasing activities related to nuclear weapons development. However, the official also noted that the agreement does not explicitly link the release of funds to Iran’s domestic human rights record, with Washington placing greater priority on nuclear nonproliferation.

The deal calls for reopening the Strait of Hormuz, a strategic maritime passage crucial to global energy supplies, which contributed to a drop in oil prices following news of the agreement. The price of oil fell further to around $80 per barrel after the announcement.

President Donald Trump expressed gratitude to leaders of the Gulf Cooperation Council (GCC) during recent meetings, particularly Emir Tamim bin Hamad Al Thani of Qatar and President Mohamed bin Zayed al-Nahyan of the United Arab Emirates, for their assistance in the conflict and diplomatic efforts. Trump praised Gulf states for their role in the war and highlighted the importance of the peace deal.

Despite the progress, the text of the agreement remains vague in areas such as the specifics of asset unfreezing and investment commitments. A Middle Eastern official familiar with the document highlighted that the MOU does not include clear timelines or guaranteed investment funds from Gulf states, citing previous failed pledges similar to Saudi Arabia’s truce with Iran years ago.

Within the U.S., the deal has met with cautious responses. Some congressional members have withheld judgment pending further details, while others have voiced concerns about lifting sanctions and releasing funds to Iran. Vice President JD Vance denied that American taxpayer money would be given to Iran, emphasizing that any financial arrangements would be funded by the Gulf Cooperation Council and contingent on Iran’s compliance.

Critics, including Israeli officials and certain U.S. lawmakers, argue that the agreement may fall short in fully addressing the threats posed by Iran’s government and its regional activities. Several Trump advisers have framed the potential investment fund as an incentive for Iran to dismantle its nuclear capabilities and cease support for terrorist organizations.

Trump maintained that his primary objective remains preventing Iran from acquiring nuclear weapons. While initially uncertain about legislative involvement, he indicated a willingness to share the agreement’s text with Congress for review.

The deal represents a significant shift from prior U.S. policies toward Iran, echoing some elements of the 2015 nuclear agreement brokered during the Obama administration, though the Trump administration insists its approach is more stringent and performance-based. As the parties move toward formalizing the MOU, the global community watches closely to see if this initiative will lead to lasting stability in the Middle East.