US President Donald Trump has rejected reports that the memorandum of understanding (MoU) with Iran includes a $300 billion reconstruction fund.

“False,” he tells reporters during a bilateral meeting with Egyptian President Abdel Fattah Al-Sisi. “You can invest if you want. What am I going to do? Say nobody’s allowed to invest?

“We’re not putting up 10 cents,” he adds.

Trump stresses that the US is not investing and does not have a reconstruction fund. When pressed on Gulf countries providing funds, he responds: “If they do it, fine. I would say they won’t be doing it for a while, until they find out the behaviour” of Iran.