JD Vance Dismisses Report on Kushner, Witkoff Profiting From Iran Talks as 'Absurd'

US Vice President JD Vance has forcefully denied an explosive report alleging that two of President Donald Trump's closest advisers, Jared Kushner and Steve Witkoff, used insider knowledge from sensitive US-Iran negotiations to profit in financial markets.

Calling the claims 'completely bogus', Vance insisted he was never warned by Iranian officials about any such conduct, directly contradicting the report that sparked the controversy.

The dispute has thrust the latest round of US-Iran diplomacy into the spotlight, with Vance publicly defending Kushner and Witkoff while rejecting allegations that have quickly spread online.

Explosive Report Sparks Public Rebuttal

The controversy began after a report claimed Iran privately warned Vance during negotiations in Switzerland that Kushner and Witkoff were allegedly exploiting confidential diplomatic talks for financial gain rather than focusing solely on securing a deal.

According to the report, the allegations came from a senior Iranian official who told the news outlet Drop Site that Tehran believed the pair were 'more interested in exploiting their insider knowledge to profit in financial markets than reaching a deal'.

The report went even further, alleging Iran had calculated roughly $9 billion (£6.7 billion) in profits from what it described as 'market manipulation' by individuals close to Trump, primarily Kushner and Witkoff. It also claimed Tehran sought $4.5 billion (£3.35 billion) of those alleged profits through intermediaries.

However, no publicly available evidence has been produced to support those allegations, and Vance has categorically rejected the account.

Vance Rejects The Claims

Responding on X, Vance said he never received the alleged warning during the Switzerland talks.

'This is completely bogus. I never received a message like this,' he wrote.

He then offered an unequivocal defence of both men.

'If I had, I would have said: Jared and Steve are trusted members of the president's team and very dear friends. No one has done more than the two of them to work towards peace and prosperity in the region. The idea they're trading on insider information is absurd.'

Vance also explained why he chose to publicly respond despite usually ignoring rumours circulating online.

'I see a lot of BS flying around and I normally just ignore it. But Steve and Jared are good dudes, and I'm honoured to work with them.'

His remarks marked one of his strongest public defences of Kushner and Witkoff, underscoring how seriously the administration viewed the allegations.

Why The Allegations Matter

The report centres on claims that individuals involved in high-level diplomacy may have used confidential information to benefit financially before markets reacted.

If such conduct were ever proven, it could raise significant legal and ethical questions because sensitive geopolitical developments often influence oil prices, currencies and other financial markets.

At this stage, however, the allegations remain unverified. Vance has flatly denied the report's central claim that Iran ever delivered such a warning, and no evidence has been publicly released to substantiate the accusations.

Kushner And Witkoff's Roles

Jared Kushner, Trump's son-in-law and former senior adviser, played a leading role in the administration's Middle East diplomacy, including efforts that resulted in the Abraham Accords.

Steve Witkoff has become one of Trump's closest diplomatic envoys and has been involved in recent engagement surrounding Iran. Both men have been key figures in the administration's broader foreign policy strategy.

Neither Kushner nor Witkoff had publicly responded to the allegations at the time of writing.

Separate White House Investigation

The dispute unfolded as the White House dealt with an unrelated ethics matter involving one of Trump's long-time teleprompter operators.

White House Press Secretary Karoline Leavitt confirmed the employee had been placed on unpaid administrative leave while cooperating with a federal investigation into alleged insider trading involving a prediction market platform.

Leavitt said Trump was aware of the investigation and supported the decision.

'Obviously, I'm aware of the report. The President is too. I spoke with him about it. He believes it's deeply unfortunate and frankly a disgrace,' she said during a White House briefing.

She added that the administration maintains 'extremely strict ethical guidelines' and confirmed the unpaid leave was ordered by the President.

While the investigation is unrelated to the allegations involving Kushner and Witkoff, both developments placed questions about ethics and financial conduct under renewed public scrutiny.

For now, the dispute remains a direct clash between an explosive allegation and an equally forceful denial.

The report alleges Iran warned JD Vance that Kushner and Witkoff were abusing sensitive negotiations for financial gain. Vance insists no such warning was ever delivered, calling the entire account 'absurd' and standing firmly behind two of Trump's most trusted advisers.

Unless new evidence emerges, the controversy remains defined by competing narratives, one making extraordinary allegations, the other rejecting them in the strongest possible terms.