Trump rules out Iran investment at 2026 G7 summit

President Donald Trump told Qatar's Emir the US will not invest in Iran, hardening his stance even as he called the nuclear deal "fair" at the G7 summit.

Trump ruled out any US investment in Iran during a bilateral meeting with Qatar's Emir at the G7 summit in Évian-les-Bains, calling the nuclear deal "fair" and saying it should succeed — a statement that maintains pressure on Tehran while leaving room for diplomacy.

"The US will not invest any money in Iran," Trump said during the meeting with Qatar's Emir Sheikh Tamim bin Hamad Al Thani on the sidelines of the Group of Seven gathering in France.

The comments come as the G7 agenda is dominated by the escalating confrontation with Iran, with Trump's positions on trade, the war in Ukraine and NATO also straining ties with European allies. The muted ambitions from the US and European countries reflect how global diplomacy has adapted to the Trump era, where avoiding a blowup has become the primary objective, according to people familiar with the discussions.

The statement threatens to increase geopolitical tensions in the Middle East, potentially driving crude oil prices higher on supply disruption fears while boosting safe-haven demand for gold and the US dollar. Sectors with exposure to Iran trade face negative headwinds, though Trump's characterization of the deal as "fair" introduces ambiguity that leaves room for diplomatic resolution.

The G7 summit, held in Évian-les-Bains, marks Trump's first major multilateral engagement since the escalation of tensions with Iran. The annual gathering of the world's largest advanced economies has historically served as a platform for coordinating policy on Iran's nuclear program, but Trump's unilateral approach has created friction with European signatories to the 2015 nuclear deal. France, Germany and the UK have sought to preserve elements of the nuclear framework through a separate payment mechanism known as INSTEX, designed to bypass US sanctions and maintain trade with Tehran.

The last time the US adopted similarly tough language on Iran was in 2018, when Washington withdrew from the Joint Comprehensive Plan of Action and reimposed sanctions. Brent crude rose sharply in the months following that announcement, while gold gained as investors sought safe havens. The current standoff carries similar risks for energy markets, given that the Strait of Hormuz — through which about 21% of global oil trade passes — remains a flashpoint. Any disruption to tanker traffic through the strait could push oil prices higher, with implications for inflation and central bank policy across developed economies.

For European allies, Trump's stance complicates efforts to maintain diplomatic channels with Tehran. The US president's characterization of the deal as "fair" could signal willingness to negotiate, but his insistence on no US investment suggests any new agreement would require significant Iranian concessions. Qatar, which has maintained ties with both Washington and Tehran, could serve as an intermediary — a role the Gulf state has played in previous hostage negotiations and regional disputes.

The broader G7 gathering has been characterized by muted ambitions, with leaders focused on managing rather than resolving differences. Trump's positions on trade tariffs, Ukraine aid and NATO burden-sharing have created additional friction with European counterparts, limiting the scope for coordinated action on Iran. The summit's final communique, expected later this week, will be closely watched for language on Iran sanctions and nuclear diplomacy.

This article is for informational purposes only and does not constitute investment advice.