The Trump administration has proposed investing $5 billion in a new fund to help Middle Eastern countries rebuild energy infrastructure damaged during the Iran war and reduce their dependence on the Strait of Hormuz for transporting oil and gas, The Wall Street Journal reported on Tuesday.
The proposal is under discussion with several Middle Eastern countries, including Saudi Arabia and the United Arab Emirates, the report said, citing US and Middle Eastern officials and documents seen by the WSJ. The terms are still being discussed and could change, while it remains unclear when, or if, the participating countries will sign on.
