President Donald Trump speaks on the day he signs an executive order regarding quantum computing, in the Oval Office at the White House in Washington, June 22, 2026.
Jonathan Ernst | Reuters
President Donald Trump on Monday hedged when asked if he could guarantee that Iran would not use profits from oil sales to rebuild its military in the wake of the war with the U.S. and Israel.
Trump said the money was expected to be used to buy American agricultural products.
However, an Iranian central banker said the country is under no obligation to buy agricultural products from the U.S.
“Well, they’re not supposed to be doing that, so we’ll see,” Trump told CNBC’s Eamon Javers at the White House during an executive order signing event when asked if he could ensure Iran would not use oil money for that purpose.
“But they’re supposed to use money to buy food for their people, because right now their people are very hungry, and they’re buying it exclusively from us: corn, soybeans,” Trump said.
“Should be a lot of money,” he said. “I hope it’s a lot of money.”
Trump also said Iranian funds that are being unfrozen as part of a memorandum of understanding between the two countries “is going to be used to buy food, and the food is going to be bought exclusively through the United States, from our farmers, and corn, soybeans, all of the things they need are going to be bought from our farmers.”
“So our farmers are very happy,” Trump said.
Trump’s answer came hours after Treasury Secretary Scott Bessent authorized the import of Iranian oil and refined products into the U.S. through at least August, in light of productive peace talks between the Islamic Republic and the U.S. in Switzerland.
Last Thursday, the U.S. Navy lifted a blockade of Iran’s ports and coastal areas, which since April had drastically slashed the amount of Iranian oil that was loaded for export.
Abdolnaser Hemmati, the governor of Iran’s central bank, told the Iranian news agency Tasnim on Monday, “There is no obligation to buy agricultural inputs from the U.S.,” the outlet reported.
“Based on the signed notes, there is no obligation to purchase agricultural inputs from the U.S.,” Hemmati said, according to Tasnim.
Hemmati also reportedly said that if the price and quality of U.S. products is better compared to those of other countries, there is no block on buying the American products.
“We need to buy billions of dollars worth of essential goods and medicine annually, and it does not matter to us from which source we pay for these essential goods,” he said, according to Tasnim.
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