A Very General Document.
A page and a half, to be specific.
1. Bloomberg:
The White House sought to make the case that its interim deal with Iran will end a global energy crisis and achieve the administration’s wartime goals, even as the two adversaries diverged on what the agreement will look like.
World leaders welcomed the agreement and markets responded positively. But the US and Iran have yet to release a text of the memorandum of understanding, and doubts remained on when it will go into effect — or how exactly it will lead to the reopening of the Strait of Hormuz.
President Donald Trump, speaking to reporters at the Group of Seven summit in France, insisted that the strait would be clear for traffic. “We have a lot of lanes right now already,” he said sitting alongside French President Emmanuel Macron.
Vice President JD Vance also sought to defend the deal Monday, making the rounds on television, claiming that any pact with Iran would be built around a verification system to ensure Tehran followed through on the terms. The two sides are expected to hold a formal signing ceremony on June 19.
And senior administration officials, speaking to reporters on condition of anonymity, described a hoped-for outcome that echoed sentiments expressed by administrations dating back to President Barack Obama — that the US wanted to extend a hand to Iran, and if it met a series of demands it would get relief from economic sanctions and win other financial incentives. (Source: bloomberg.com)
2. Vice President JD Vance yesterday said the US’s memorandum of understanding with Iran is “a very general document” with specifics of the deal to be worked out during further negotiations. “The MOU…is about a page and half so it is a very general document,” Vance said on CNN’s The Lead with Jake Tapper. “On a number of issues, we are going to have to figure this stuff out during the technical negotiation phase.” (Sources: timesofisrael.com, cnn.com. CNN video here.)
3. The Trump administration is prepared to allow the establishment of a $300 billion investment fund for Iran if Tehran agrees to a final settlement to end the war that includes a nuclear deal. A senior US official said Washington had discussed the possibility of sanctions relief and “a big $300 billion fund to rebuild their country”. The incentives would be connected to Iran’s “performance” adhering to the memorandum of understanding that is to be formally signed in Switzerland on Friday. A person briefed on the talks said the establishment of the fund would be contingent on a final settlement that is part of the MoU and would follow an extension of the ceasefire by 60 days, the reopening of the Strait of Hormuz and further negotiations on a nuclear deal. (Source: ft.com. David Ignatius column on this adds more detail.)
