Trump Again Insists US ‘Soon’ To Buy Farm Goods With Unfrozen Iranian Funds

02:39 26.6.2026

⁠President ‌Donald Trump continued to insist that the US would ‌”soon” buy wheat, soybeans, and corn from ‌American farmers using Iranian assets that ‌have ⁠been frozen for years under ‌US sanctions.

Trump said Iran is facing food shortages and that the US would use “some of Iran’s money” to buy the farm goods for the country from American farmers.

“We have a new market coming up, and that’s called the lovely country of Iran,” he said in comments at the White House on June 25.

“It’s a beautiful place — would anybody like to go there? The Islamic republic of Iran.”

“They’re having a hard time with food, and we’re going to be taking some of their money, and we’ll spend it, and we’re going to be buying wheat, soybeans, and corn, a lot of it, and that process is going to be starting soon. It’s going to be pretty big,” he added.

Tehran earlier pushed back against similar US claims that any unfrozen assets released under a framework deal would be used to buy US agricultural products, although it stopped short of ruling it out, as the proposal sparked a sharp backlash from the Iran’s hard-liners.

The release of billions in Iranian funds held abroad is part of the memorandum of understanding (MOU) signed by Tehran and Washington on June 17 that aims to end months of war between the foes.

Trump on June 23 said any unlocked Iranian funds would be used to purchase American corn, soybeans, and wheat. The money, he said, would be held “in escrow, controlled by” Washington and spent “exclusively” on American food and medical supplies.

Iranian Central Bank Governor Abdolnasser Hemmati swiftly denied there was such an obligation. “Based on the signed memorandum, we have no requirement to purchase agricultural inputs from America,” he said.

Iranian Foreign Ministry spokesman Esmaeil Baqaei said Tehran would decide how to use any released assets “in whatever way is in the country’s interest.”

“Therefore, there are no restrictions in this regard,” he said.

In a news conference in Switzerland last week, US Vice President JD Vance said the administration is looking to use unfrozen Iranian funds to buy US agricultural products.

Bloomberg News quoted StoneX chief commodities economist Arlan Suderman as saying: “I remain skeptical of Iranian purchases of US ag commodities, but the possibility must be respected. That may end up being an area that Iran gives on in order to get what it wants in another area of the talks.”

US sold large volumes of corn, wheat, and rice prior to Iran’s 1979 Islamic Revolution. Since then, however, Iran has established agricultural trade flows with other countries.

With reporting by Bloomberg News and Reuters

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