{"id":743155,"date":"2026-06-17T22:15:16","date_gmt":"2026-06-17T22:15:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/743155\/"},"modified":"2026-06-17T22:15:16","modified_gmt":"2026-06-17T22:15:16","slug":"us-iran-war-deal-includes-us300-billion-fund-immediate-end-to-oil-sanctions","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/743155\/","title":{"rendered":"US-Iran war: Deal includes $US300 billion fund, immediate end to oil sanctions"},"content":{"rendered":"

\"Michael<\/p>\n

Updated June 18, 2026 \u2014 8:03am,first published 4:55am<\/p>\n

Save<\/p>\n

You have reached your maximum number of saved items.<\/p>\n

Remove items from your saved list<\/a> to add more.<\/p>\n

AAA<\/p>\n

Washington: The United States will immediately waive restrictions on Iranian oil exports and ultimately lift all sanctions, as well as help create a $US300 billion ($425 billion) development fund for Iran, under President Donald Trump\u2019s deal to end the war.<\/p>\n

It also says Iran and Oman will \u201cdefine the future administration and maritime services in the Strait of Hormuz\u201d in discussion with other Gulf countries, potentially ceding power over the crucial waterway to two states which have countenanced imposing tolls.<\/p>\n

\"PresidentPresident Donald Trump addressing the G7 in France after US officials released the text of the deal with Iran.AP Photo\/Julia Demaree Nikhinson<\/p>\n

The full text of the agreement<\/a>, which was kept secret for days, was dictated to reporters by US officials on a call Wednesday (US time), just as Trump trumpeted the success of the war at a press conference at the G7 in France.<\/p>\n

Trump personally signed the agreement on Wednesday night, a US official confirmed, while Iran\u2019s foreign office said President Masoud Pezeshkian had also signed. Previous plans were for the document to be signed at a ceremony in Switzerland<\/a> on Friday.<\/p>\n

Under the deal, Iran \u201creaffirms that it shall not procure or develop nuclear weapons\u201d. The US and Iran will hold further discussions on how to dispose of Iran\u2019s highly enriched uranium, which at a minimum will involve down-blending the material on-site under supervision by the International Atomic Energy Agency.<\/p>\n

Related Article\"<\/a><\/p>\n

\u201cWe will push for more than that,\u201d a senior US official said, speaking on condition of anonymity to explain the deal. \u201cBut the fact that they\u2019re conceding to that is a major, major win for the United States of America.\u201d<\/p>\n

Military operations will cease \u201con all fronts, including in Lebanon\u201d, and both parties will \u201crefrain from the threat or use of force against each other\u201d, while also ensuring Lebanon\u2019s \u201cterritorial integrity and sovereignty\u201d.<\/p>\n

The US will immediately wind down its naval blockade of Iranian ports, and fully end the blockade within 30 days. Iran, meanwhile, would \u201cmake arrangements using its best efforts\u201d to provide safe passage through the Strait of Hormuz with no charge \u201cfor 60 days only\u201d.<\/p>\n

The agreement says long-term management of the strait will be subject to dialogue between Iran and Oman, along with Gulf countries that border the waterway.<\/p>\n

Defending that clause, the senior US official said while the Iranians would aggressively assert their rights during negotiations about the long-term future of the strait, Gulf countries would never agree to any arrangement that did not permit toll-free access.<\/p>\n

Under the deal, the US agreed that with its regional partners, it will \u201cdevelop a definitive, mutually agreed plan with at least $US300 billion for the reconstruction and economic development of the Islamic Republic of Iran\u201d.<\/p>\n

A senior US official said this clause did not require the US \u201cto ever pay a cent of money to the Iranians\u201d. Rather, the US would enact sanctions relief that would allow Gulf countries to invest in Iran, giving the example of the United Arab Emirates building a power plant. \u201cThat\u2019s all it says.\u201d<\/p>\n

The agreement further stipulates that upon the signing of the Memorandum of Understanding (MOU), the US Treasury will immediately issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services.<\/p>\n

Related Article\"Trump<\/a><\/p>\n

The senior US official said this was prudent because it would end the status quo whereby Iran still sold oil to China, but with a \u201cbig fat discount\u201d, which was \u201cabsurd\u201d.<\/p>\n

Beyond that, the US also agreed to \u201cterminate all types of sanctions against the Islamic Republic of Iran\u201d in accordance with a schedule that shall be agreed in the final deal.<\/p>\n

And the US undertook to fully unfreeze Iranian funds and assets upon implementation of the agreement, in accordance with procedures to be determined as part of the final deal.<\/p>\n

Senior US officials stressed that giving Iran access to its billions in frozen funds and assets was contingent on Tehran behaving and complying with the deal, such as destroying the highly enriched uranium.<\/p>\n

Asked how the US would evaluate Iran\u2019s compliance, one official said there was now much more interaction between the two nations. \u201cWe\u2019re going to just work together and see if we can do some things to build trust.\u201d<\/p>\n

\"DonaldDonald Trump boards Air Force One in Geneva after attending the G7.Martial Trezzini\/Pool Keystone via AP<\/p>\n

Trump, speaking from the G7 in France, said the deal had achieved \u201ceverything we set out to accomplish, and much more\u201d. That included Iran\u2019s reiteration of its long-standing claim that it doesn\u2019t seek nuclear weapons.<\/p>\n

The US president praised the \u201cbrilliant\u201d stock market, noting indexes rose each time he announced progress towards a peace deal, and fell when there was bad news. He said avoiding a worldwide depression motivated him to sign the deal.<\/p>\n

Related Article\"New<\/a><\/p>\n

\u201cThe one thing I didn\u2019t want to see is, I didn\u2019t want to see economic catastrophe. If you kept this going, that could have happened,\u201d Trump said.<\/p>\n

But he also entertained the idea of restarting the war.<\/p>\n

\u201cIt\u2019s a memorandum of understanding. If it doesn\u2019t get done in 60 days, that\u2019s alright, we go back to bombing. I don\u2019t want to do that because it\u2019s so good, but we might have to.\u201d<\/p>\n

Trump also held out an olive branch on Iran\u2019s civilian nuclear ambitions and ballistic missile program, arguing it was difficult to ask Tehran to surrender those when other countries had them.<\/p>\n

Republican senator Lindsey Graham, an Iran hawk who urged Trump to start the war, cautiously backed the agreement after speaking with White House special envoy Steve Witkoff, noting it would reopen the strait.<\/p>\n

Related Article\"<\/a><\/p>\n

It remained to be seen whether Iran would agree to an acceptable, verifiable final deal, he said, \u201cbut I see little downside to trying\u201d.<\/p>\n

However, other Republicans who have already lost Trump\u2019s endorsement slammed the deal. Louisiana senator Bill Cassidy, who lost preselection to a Trump-backed candidate, called it \u201cthe worst foreign policy blunder in decades\u201d and said former president Ronald Reagan was rolling in his grave.<\/p>\n

\u201cIran\u2019s nuclear ambitions were not curbed, and they have learned that threatening the Strait of Hormuz works and will undoubtedly leverage it in the future. Now, Iran gets to build brand-new infrastructure under this deal,\u201d Cassidy said on X.<\/p>\n

\u201cBefore the war, the strait was open, Iran was being crushed by sanctions, and 13 service members were still alive. Now, 13 Americans are dead, families have paid billions at the pump, sanctions will be lifted, and the bombing has stopped.\u201d<\/p>\n

\"RepublicanRepublican senator Bill Cassidy, who lost his preselection to a Trump-backed candidate, called it \u201cthe worst foreign policy blunder in decades\u201d.Bloomberg<\/p>\n

Get a note directly from our foreign correspondents on what\u2019s making headlines around the world. Sign up for our weekly What in the World newsletter<\/a>.<\/p>\n

Save<\/p>\n

You have reached your maximum number of saved items.<\/p>\n

Remove items from your saved list<\/a> to add more.<\/p>\n

\"MichaelMichael Koziol<\/a> is the North America correspondent for The Age and Sydney Morning Herald. He is a former Sydney editor, Sun-Herald deputy editor and a federal political reporter in Canberra.Connect via X<\/a> or email<\/a>.From our partners<\/p>\n","protected":false},"excerpt":{"rendered":"Updated June 18, 2026 \u2014 8:03am,first published 4:55am Save You have reached your maximum number of saved items.…\n","protected":false},"author":2,"featured_media":743156,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[43,44,41,39,42,40],"class_list":["post-743155","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/743155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=743155"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/743155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/743156"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=743155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=743155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=743155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}