Iran and US agree deal, but fine print still to be agreed

Iran and the US are set to sign a new peace deal this Friday. The US has been humiliated on multiple fronts, to say the least. The Oman-brokered deal, as we have often repeated, offered unprecedented concessions, but the US and Israel attacked Iran anyway.

The full terms of the new deal are not yet clear. But we are being told the details are finalised, to be formally signed on 19 June. Here is what the news agency Reuters has reported:

STRAIT OF HORMUZ:
* Iran immediately reopens the Strait of Hormuz to all commercial vessels, while the U.S. ⁠lifts its naval blockade on Iranian ports. The lifting of the U.S. blockade would begin immediately after the memorandum is signed and be completed within 30 days.

It is worth noting that Iran has said that there will be a toll charged for navigating the strait. Iranian Foreign Ministry spokesman Esmaeil Baghaei said on 15 June:

Our goal is to pave the way for a secure passage in this waterway. We need a certain period of time to discuss with the other sides this important matter.

It’s full services that will be offered in order to keep and maintain the environment. So many other services will be offered by Iran and Oman, and this will cost money. Accordingly, the fees will be there, and this is clear.

Baghaei also made it clear a ceasefire in Lebanon was integral to any deal for Iran.

Iran, sanctions, and the post-war economy

Here is where the parties are on economic matters, according to Reuters:

FINANCIAL:
* The U.S. agrees not to impose any new sanctions on Iran until a final deal is reached.
* Following a final agreement, all U.S. and U.N. sanctions on Iran would be lifted according to an agreed timetable.
* The U.S. will waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenue.

And:

* The ‌U.S. ⁠agrees to release $25 billion of Iran’s frozen assets, including via direct cash transfers, cooperation among regional countries, and financial credit lines.
* Washington, in coordination with its regional allies, would prepare a reconstruction and development plan for Iran, to be negotiated and agreed with Iran within ⁠60 days.

The questions of nuclear power and weapons

And this appears to be the agreed position on nuclear issues, a subject of ongoing negotiations for Iran:

NUCLEAR:
* Tehran agrees that it will neither produce nor acquire nuclear weapons.
* Pending a final agreement, Iran would maintain the current status of its nuclear programme, refraining from further uranium enrichment ⁠and expansion of nuclear facilities.
* The United States agrees to allow Iran to dilute its stockpile of highly enriched uranium on Iranian soil under a future comprehensive ⁠agreement.
* Iran’s nuclear programme, uranium enrichment activities and mechanisms for handling its stockpile of highly enriched uranium would be negotiated within 60 days of the memorandum and addressed in a final agreement.

There is understandable scepticism in Iran about whether the deal is real. The US has repeatedly used talks as a cover to continue its war. Even the legacy media has accepted this.

Here is the Guardian on the day the war began:

In June last year, Israel, with the US later in tow, launched a 10-day attack on Iran just three days before Iran and the US were due to meet for a sixth set of talks.

So this assault, in the middle of a second negotiation process, must torpedo the chances of the Iranian regime ever taking a US offer of talks seriously. They have been stung twice.

Middle East Eye has interviewed Iranians on the ground, and cited a man named Mohammed saying:

Just look at how long it took them to reach this small understanding, which is really more of a ceasefire extension than anything else.

During that time, the United States attacked, Israel attacked and Iran attacked.

Adding:

All of that makes it difficult for me to be optimistic. People want to believe all their problems are over, but I don’t think Iran and the United States will be able to reach an agreement on difficult issues like the nuclear programme and sanctions relief.

The jig was up a long time ago. US journalist Spencer Ackerman called the US loss as early as 31 March:

So You Lost A War To Iran. And you’re going to try to convince us you… won. Wow. Wow, OK.

He followed up in mid-May with a piece titled:

Not A Stalemate With Iran, An Unambiguous Loss.

Read them both for a clear-eyed view of where the US is, as this war — we hope and pray — finally closes out.

US self-delusion to the last minute

On the US side, vice president JD Vance praised Israel as a “good partner”:

CBS: Is Israel on board with this? It doesn't appear so at this time

JD VANCE: Israel has been a good partner, but we do expect everybody in the region to honor this agreement. There are always bumpy moments with these ceasefires pic.twitter.com/gFl6ayFT5p

— Aaron Rupar (@atrupar) June 15, 2026

He then tried to recast America’s war objectives to excuse Trump’s failure to achieve any:

JD Vance on Iran:

What Trump really wanted to do—not just over the last six weeks, but really over the last year and a half of Iran policy—was get us to a place where we could fundamentally change our relationship with the Iranians and ensure that they never have a nuclear… pic.twitter.com/GfdIptzQmT

— Clash Report (@clashreport) June 15, 2026

Vance also denied the claim by Iran that it’s frozen billions would be restored. He went as far as saying the Iranians need the deal to be palatable to unwitting hardliners — making a glib point about political optics inside iran.

CBS: The Iranians are saying they're gonna get $24 billion in frozen funds if they hit certain benchmarks. Is that true?

JD VANCE: We're open to a lot of things that are on the table but that doesn't appear anywhere in the text pic.twitter.com/lfyOEmGfJm

— Aaron Rupar (@atrupar) June 15, 2026

A Reuters exclusive, published on 13 June, cited four anonymous sources, saying that the UAE had agreed to unlock $10 billion of frozen Iranian funds.

One source described the move as a face-saving backdoor option for the US:

that the agreement would be a way for Iran to obtain the payoff it sought in return for a ceasefire, while allowing the Trump administration to claim it did not pay.

Of these sources, two told Reuters that $3 billion had already been released. The Emirati foreign affairs ministry issued a statement to deny these claims, in characteristic fashion. Anyone reminded of their denial of Netanyahu’s “secret” visit in mid-May…

Meanwhile an anonymous Iranian official told Drop Site News that the government has drafted in psychologists to craft communications with Trump’s erratic tendencies:

We added two senior psychologists to the negotiations’ advisory circle so that we can shape messages intended for President Trump from the perspective of managing what we regard as psychopathic behavior pattern.

Adding:

[Trump’s] reactions have improved noticeably since we began incorporating the recommendations of these advisers into our messages and written communications.

As Iran and America debate the terms and fine print, one key measure of the deal is whether it is better than the terms offered before Trump and Israel started pummelling Iran on 28 February.

For that, we’ll have to wait until Friday 19 June.

Featured image via Chip Somodevilla / Getty Images