Donald Trump Says U.S. and Iran Near MOU to End U.S. War, Extend Ceasefire

For the 39th time this year, Donald Trump said on June 14 that the U.S. and Iran were close to finalizing a Memorandum of Understanding (MOU) to end the U.S. war against Iran that was launched with Israel on Feb. 28.

“For the 39th time this year, Donald Trump took to social media on June 14 to announce that the U”

Between The Lines

The MOU is scheduled to be signed in Geneva, Switzerland on June 19 and will extend a ceasefire for another 60 days while all sides negotiate details of a final agreement to permanently end the conflict.

Between The Lines

The leaked accounts described in the sources include the U.S. lifting its naval blockade of Iranian ports in exchange for Iran reopening the Strait of Hormuz to global commercial traffic.

The sources also describe a sanctions and assets dispute, with Iran saying the U.S. will end economic sanctions and release $24 billion to $25 billion in frozen Iranian assets during the 60-day negotiation window, while the U.S. says those outcomes depend on Iran’s agreement to restrict its nuclear program, limit its missile arsenal and curb support for regional allied militia groups.

The Independent reported that Trump hoped the conflict would soon be "in the rearview mirror," while remaining tight-lipped about the new peace deal that is believed to include reopening the Strait of Hormuz and a 60-day period for talks on its nuclear programme.

The Independent also said the Trump administration reportedly denied Israel's request to view the memorandum of understanding before its signing, citing concerns that Israeli Prime Minister Benjamin Netanyahu might leak the document.

FOX 7 Austin

NBC News described Trump’s shift in focus at the Group of Seven summit in France, saying the Iran war will soon be "in the rearview mirror," even as it noted uncertainty over the details of the framework deal and doubts about whether it will hold.

In the same NBC account, Trump told reporters he would do “whatever I can” on Ukraine and said “Now that this is finished, we’re going to be focusing on that,” during a bilateral meeting with French President Emmanuel Macron.

GV Wire said oil prices fell about 5% to a three-month low as traders hoped the U.S. and Iran would agree to end the war and allow oil to flow through the Strait of Hormuz.

“A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, U”

GV Wire

GV Wire reported that Brent crude futures fell $4.25, or 5.1%, to $78.92 a barrel at 12:02 p.m. ET, while U.S. West Texas Intermediate crude fell $4.80, or 5.9%, to $75.95.

The same source said the interim deal would extend a tenuous ceasefire announced in April by another 60 days and reopen the strait, which Iran has effectively blocked since the U.S. and Israel first attacked Iran.

In the background of the market move, GV Wire added that about 20% of global oil supplies passed through the strait before the war, and that investment banks including Goldman Sachs, Morgan Stanley and Citi lowered their oil price forecasts after news of the preliminary agreement on Monday.