Trump says US will have to give Iran's money back

President Donald Trump said Wednesday that the US has taken "a lot of" Iranian money and will have to give it back.

"We have taken a lot of their money, and we have their money," Trump said at a news conference in France as the G7 summit ended.

"It's not our money, it's their money, and we froze it at a certain point in time. I guess we're going to have to give it back, you know, if we didn't give it back, nobody would ever invest in the dollar again," he added.

A memorandum of understanding (MOU) was signed between the US and Iran electronically on Sunday, which includes an end to the military operations on all fronts and reopening the Strait of Hormuz while setting the stage for talks on Iran's nuclear program linked to sanctions relief. The signing ceremony is scheduled for Friday in Switzerland.

The US undertakes with regional partners to develop a "definitive, mutually agreed plan" with at least $300 billion for the reconstruction and economic development of Iran, according to the deal.

"We're not putting up money. Only if they're doing things right. If they're doing things right, if people want to invest, they can invest ... They have this $300 billion fund … It’s only if they’re doing things right,” Trump said.

"Remember this also, when you talk about 'billions of dollars,' they've had much more than a trillion dollars worth of damage done," he added.

About possible sanctions relief for Iran, Trump said that "something will happen as soon as they behave."

The 14-point MOU released by the US said Washington undertakes to terminate "all types of sanctions" against Iran, including the UN Security Council resolutions, IAEA (International Atomic Energy Agency) Board of Governors resolutions, and all unilateral US sanctions, primary and secondary, in an agreed upon schedule as part of the final deal.