Iran told Vance that Kushner, Witkoff ‘abused’ talks: Report

Iranian negotiators also raised concerns about Kushner relaying details of the talks to Israeli PM Benjamin Netanyahu.

Iran privately warned US Vice President JD Vance that President Donald Trump’s son-in-law Jared Kushner and special envoy Steve Witkoff were exploiting their access to nuclear talks for personal financial gain, according to a report by investigative outlet Drop Site News.

The White House has rejected the claim outright, calling it false and accusing the outlet of acting as a mouthpiece for Tehran.

Citing a senior Iranian official, Drop Site reported that Tehran’s negotiators used a back channel to reach Vance during the US-Iran talks in Lake Lucerne, Switzerland, in late June. The message, conveyed through an intermediary, alleged that Kushner and Witkoff were more focused on using inside knowledge of the negotiations to profit from financial markets than on actually reaching an agreement.

Iranian negotiators also raised concerns about Kushner relaying details of the talks to Israeli Prime Minister Benjamin Netanyahu, the report said. It noted that Tehran had flagged similar concerns about Witkoff to Washington even earlier, through Pakistani interlocutors ahead of talks in Islamabad in April.

The unnamed official told Drop Site that Iran remains confident the message reached Vance.

Responding to the report, a US official told Drop Site no such message was ever conveyed to Vance or his team, and dismissed any suggestion that Trump’s negotiators were driven by anything other than the president’s interests. 

Allegations of market manipulation

The report comes amid broader speculation among financial analysts about unusual trading activity in oil futures, energy stocks and prediction markets coinciding with developments in the Iran conflict, including remarks from Trump that have often preceded the opening of US markets on Mondays.

According to Drop Site, Iran has estimated that such alleged manipulation has generated close to USD 9 billion in profits and has formally sought, through intermediaries, a USD 4.5 billion share of that sum, a claim that adds an unusual financial dimension to an already fraught diplomatic track.

A White House spokesperson dismissed the entire account. “No such message was ever transmitted to the United States,” the spokesperson said, according to Drop Site.

Ceasefire status uncertain

The backdrop to the reported outreach is a rapidly deteriorating truce. Trump formally notified the US Congress on July 10 that American forces are in active combat against Iran and has since declared the ceasefire over, while indicating diplomacy could still continue. The Iranian official told Drop Site that Tehran expects Washington to return to the table once attempts to reassert control over the Strait of Hormuz fail, though on terms less favourable to the US than before.

Why it matters for India

Any escalation around the Strait of Hormuz carries direct implications for India, which sources a significant share of its crude oil and LNG through the waterway. Continued uncertainty over the ceasefire and renewed talk of military action are likely to keep global crude prices volatile, a factor Indian refiners and policymakers are watching closely.