US President Donald Trump, speaking on the sidelines of the G7 summit, said what matters to him most is that Iran won’t have a nuclear weapon. (AP file photo)
The ship traffic movement through the Strait of Hormuz will not resume until shipowners are sure that the US-Iran peace deal is “material”, Financial Times quoted the head of Mitsui OSK Lines as saying. The tanker operator stated that it might take weeks before the operations at the strait are back to normal because of the apprehensions after multiple false starts over Hormuz reopening, FT reported.
US President Donald Trump on Monday pushed back sharply against financial reporting around the landmark US-Iran peace deal, calling claims that Washington would pay Tehran $300 million “Fake News put out by the Dumocrats,” while declaring in the same Truth Social post that “Iran has agreed to never have a Nuclear Weapon” his most direct public endorsement yet of a key non-proliferation clause in the memorandum of understanding signed between the two sides.
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Signing set for Friday in Switzerland: Trump and Iran declared they had reached an initial agreement intended to end more than three months of war and reopen the Strait of Hormuz, with a formal signing ceremony scheduled for Friday, 19 June, in Switzerland. Final negotiations will have a 60-day window focusing on nuclear weapons development, remaining sanctions, and UN Security Council and IAEA resolutions regarding Iran.
5 latest developments
- Deal confirmed : The US-Iran agreement, set to be signed on Friday in Switzerland, will formally put an end to the war launched on 28 February by the US and Israel against the Iranian regime, which subsequently spread across the Middle East.
- Hormuz reopening, oil prices tumble: Trump on Sunday authorised the toll-free opening of the Strait of Hormuz and the immediate removal of the US naval blockade. The price of US crude oil fell more than 4.5% to $80 per barrel its lowest level since early March while Brent crude also tumbled about 4% to $83.
- Nuclear clause in, stockpile unresolved: Vice President Vance said Iran has “committed to destroy and dispose of their stockpile of highly enriched material,” but the MOU gives both sides 60 days to work out the specifics. Trump on Truth Social declared Iran has agreed to never possess a nuclear weapon, calling it his most public assertion of the clause so far.
- Netanyahu struggle ‘not over’:Israeli Prime Minister Benjamin Netanyahu said Israel is not a party to the negotiated deal but stated he and Trump are “in full agreement” that Iran must not be permitted to obtain nuclear weapons.
- Israel-Lebanon flashpoint threatens deal: Israel said its forces would not withdraw from territory seized in Lebanon, while Iranian Foreign Minister Abbas Araghchi warned that Israeli strikes there must completely halt and that Washington bears responsibility.
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