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US says it needs $80bn for Iran war, other bills

The US Department of Defense has told lawmakers it needs about $80 billion in emergency funding to cover costs from the Iran war as well as other non-war-related bills, according to briefings cited in US media reports. Deputy Defense Secretary Stephen Feinberg communicated the request to members of Congress in phone calls this week, with the Wall Street Journal reporting that the $80 billion figure is now the Pentagon’s target for an urgent supplemental package. The planned request would not be limited to the military alone, as the full US supplemental proposal is expected to include money for the Pentagon alongside non-defense priorities such as farm support and disaster relief. US officials previously indicated that the Iran war has cost around $25 billion so far, marking the first official estimate of the financial toll of the conflict. Earlier projections from […]

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14-point US-Iran deal to end war

US President Donald Trump has signed a 14-point memorandum of understanding (MOU) with Iran to end hostilities, reopen the Strait of Hormuz and set a roadmap for a comprehensive peace deal that includes lifting all sanctions and unfreezing Iranian assets abroad. The US and Iran, along with their allies in the ongoing conflict, declared an immediate and permanent cessation of military operations on all fronts, including Lebanon, and agreed not to initiate any warfare or military actions against each other. The MOU commits both nations to honor each other's sovereignty and territorial integrity, refrain from interference in each other's domestic matters, and negotiate a comprehensive agreement within a maximum of 60 days. Upon signing, the US will begin dismantling its naval blockade against Iran, fully ending the blockade within 30 days, and restore maritime traffic to pre-war levels proportional to […]

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Trump defends Iran deal, calls critics ‘fools’

US President Donald Trump has angrily defended his controversial deal with Iran to end hostilities and reopen the Strait of Hormuz, lashing out at opponents and branding critics of the agreement as “fools.” The Trump administration this week unveiled a memorandum of understanding with Tehran that provides for an immediate cessation of military hostilities on all fronts, including Lebanon, alongside a roadmap for further negotiations. Under the interim deal, the US is set to lift its naval blockade on ships entering and leaving Iran within 30 days, while the Treasury Department will issue waivers on Iranian oil exports and move toward lifting sanctions and unfreezing Iranian assets in foreign accounts. The agreement also opens the door for up to 300 billion dollars in private investment into Iran’s infrastructure sector, as both sides enter a 60‑day window to finalize talks on […]

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US-Iran Deal Leaves Key Issues Unresolved

The newly announced memorandum of understanding between the United States and Iran has officially taken effect, marking a significant diplomatic step after months of conflict. However, while the agreement restores shipping access through the Strait of Hormuz, many of the most difficult issues remain unresolved and will be the focus of intensive negotiations over the next 60 days. Speaking at the G7 summit in France, US President Donald Trump described the deal as a major achievement and presented it as a breakthrough that could pave the way for a broader peace agreement between Washington and Tehran. Both governments later confirmed that the memorandum had been signed electronically and was now active. Despite the optimism surrounding the announcement, details released by US officials suggest that substantial differences remain between the two sides. One of the central goals of the Trump administration […]

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US and Iran Sign Initial Peace Agreement

The United States and Iran have signed a preliminary peace agreement designed to bring an end to the ongoing conflict, with key provisions taking effect immediately. The deal includes the reopening of the Strait of Hormuz, a proposed $300 billion reconstruction framework for Iran, and a commitment by Washington to begin lifting all categories of sanctions imposed on Tehran. However, negotiations over Iran’s nuclear programme — a central issue behind the conflict — will continue for an initial 60-day period, with the option of extending talks if both sides agree. US President Donald Trump signed the memorandum during the G7 summit in France, describing the agreement as a necessary step to prevent severe global economic disruption. While expressing optimism about the process, Trump warned that military action could resume if the two sides fail to reach a final settlement. Iranian […]

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Trump: If you import from third-world countries, you become one

US President Donald Trump has said that any country that imports people from third-world countries will quickly become a third-world country itself, as he defended his administration’s tougher immigration stance. Trump originally wrote on Truth Social, “If you import The Third World, you become The Third World,” and later adjusted the wording to say, “Sadly, if you import people from Third World Countries, you quickly become a Third World Country — and there’s not a thing you can do about it”. He linked this argument to his broader push to tighten migration rules, including plans to “permanently pause” migration from what he calls third-world countries so the US system can “fully recover”. The president has also signalled intentions to remove migrants he considers not a “net asset” to the US and to end federal benefits and subsidies for noncitizens he […]

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Trump says Russia should make a deal with Ukraine to end war

US President Donald Trump has said that Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky are both open to "do something" about the ongoing war in Ukraine, raising fresh questions about possible diplomatic efforts to reduce tensions and advance negotiations. Trump's remarks come as international attention remains focused on prospects for a ceasefire, peace talks, and broader efforts to bring an end to the conflict. While no specific framework or proposal was outlined, the comments have sparked discussion among political observers and foreign policy experts about whether renewed diplomatic momentum could emerge. Trump told reporters that his attention is turning back to Russia and Ukraine after concluding a short-term deal with Iran, and he said the focus will now be on Russia's war in Ukraine. The President's comments suggest both leaders may be willing to pursue a peace agreement, […]

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US-Iran set to sign peace deal Friday

A major breakthrough in Middle East diplomacy has been achieved as the United States and Iran have reached a peace deal, with the formal signing ceremony scheduled for Friday, June 19, in Switzerland. The agreement, which came after over 100 days of conflict that ignited a worldwide energy crisis and cast a shadow over the global economic landscape, is expected to mark the end of months of military tensions and pave the way for reopening the strategically crucial Strait of Hormuz. Pakistan's Prime Minister Shehbaz Sharif announced that the peace deal will be officially signed in Switzerland on Friday, June 19, with both sides working toward electronic signing preparations. US and Iranian officials confirmed on Sunday that they have agreed on a framework to end months of war, reopen the Strait of Hormuz, and lift the US blockade on Iran. […]

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Crude oil prices fall as US-Iran peace deal boosts global markets

Global crude oil prices have plunged after the United States and Iran reportedly reached a landmark peace agreement, easing fears of prolonged conflict in the Middle East and boosting investor confidence across global markets. Brent crude, the primary benchmark for worldwide oil prices, fell 3.4% to $87.30 per barrel, while West Texas Intermediate (WTI) crude declined 3.2% to $84.88 a barrel. Front-month Brent crude futures had decreased by 4.3%, settling at $86.50 per barrel, while front-month WTI crude futures also dropped by 4.3%, now at $83.76 per barrel. The market reaction follows President Donald Trump's announcement that the U.S. has agreed to a peace deal with Iran, allowing the reopening of the Strait of Hormuz and removing oil sanctions on Iran. This development has reduced concerns over oil supply disruptions from the region and eased fears that the conflict would […]

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Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release

Iran has revealed that a proposed memorandum of understanding with the United States includes a waiver of oil sanctions, limits on Iran's nuclear programme, and the release of billions of dollars in frozen Iranian assets. A senior Iranian source told Reuters on Friday that the draft deal would waive sanctions on Iran's oil exports, unfreeze billions of dollars of its funds, and impose restrictions on Iran's nuclear programme. The agreement also includes a commitment from Iran to never develop nuclear weapons. According to the source, the United States would lift its blockade on Iranian ports and issue targeted sanctions waivers to facilitate unrestricted Iranian oil sales during the negotiation period. The US proposal includes a temporary waiver of oil sanctions effective until a final agreement is reached, rather than Iran's demand for permanent lifting of all sanctions. The draft MOU […]

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