What to Watch For
The actual text of the peace deal has not been released, but U.S. officials have been circulating it to other leaders at the ongoing G7 conference in France, both Reuters and Bloomberg reported on Wednesday. The deal would reportedly set up a $300 billion fund for economic development in Iran, although Trump has dismissed the idea that the U.S. government would be providing cash for the project. The deal would also open a 60-day window for the two sides to continue negotiations on the future of Iran’s nuclear program—something Trump has repeatedly insisted Iran must give up entirely.
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Contra
Speaking earlier at the G7 conference, Trump said the agreed upon deal was not final. “It’s a memorandum of understanding and if I don’t like it, we’ll go back to shooting at them, dropping bombs on their head [sic],” Trump told reporters at a press conference on Wednesday. “If they don’t behave, we’ll go right back to dropping bombs right smack in the middle of their head,” he repeated, “because they’ve misbehaved for 47 years.”
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Key Background
Iran has long maintained a strategic partnership with Russia, another U.S. adversary, including supporting the country’s war against Ukraine despite widespread international backlash. On Tuesday, Abdolnaser Hemmati, the governor of Iran’s central bank, also visited Russia as part of a delegation to ““facilitate monetary exchanges,” Al Jazeera reported citing Iranian state news wires. Both nations face severe economic sanctions from the U.S. and European Union.