Release of Iranian funds, waiver on oil sanctions ‘seen as just the first step’

The US believe they have the agreement in place; that any money the Iranians take in will be used on American food.

But, there has been a technical committee set up to look into how Iranian money is spent.

One of the big US concerns is that that money is funneled into helping proxies around the Middle East, who then cause violence, and the US wants to stop that at the source.

It’s difficult to imagine there would be a deal done that would be quite so comprehensive.

As for the oil money, beforehand, Iran could sell oil, but often they did it at a discounted price to companies and to countries who were willing to take the risk, because they could find themselves on the other side of American sanctions. Lifting the sanctions the way the Americans have done means that they could now sell at market price, so they will get a lot more money for their projects.

The intention is that as the Iranians meet so-called benchmarks at various points of this agreement, more money will be made available to them with the unfreezing of more assets.

And then there is the potential of them being allowed more access to world markets and the banking systems as well.

But the intention is that they will get there eventually through the negotiations.

This is seen very much as just the first step.

The key outcomes of Iran-US talks

Mediators Qatar and Pakistan have said the US and Iran agreed on “a roadmap towards reaching a final deal within 60 days”, following what they described as “encouraging progress” during the first day of high-level talks in Switzerland.

The discussions followed the signing of a 14-point memorandum of understanding (MoU) on June 17 that established a framework for de-escalation between Washington and Tehran and laid the groundwork for further negotiations.

The breakthrough came after a marathon 18-hour meeting at Lake Lucerne, attended by senior officials from both countries.

The joint statement also announced the creation of a “de-confliction cell” aimed at ending Israel’s military operations in Lebanon, alongside a high-level committee and direct communication channels designed to support further negotiations.

Iran presenting release of frozen funds as ‘winning point from MoU’

In an interview with state media, Mohammad Bagher Ghalibaf spoke in detail about Iranian frozen assets and oil exports.

He spoke about Article 11 of the MoU [which concerns the release of frozen Iranian funds] and said there were two separate amounts of $6bn to be released. He said preliminary arrangements had already been made during a trip to Qatar and that the final signing took place during the Switzerland visit.

As for Article 10, which concerns the sale of crude oil, petrochemicals and derivatives, as well as banking, insurance and transportation, he said oil sanctions have also been lifted until a final agreement is achieved.

Ghalibaf went into detail about these two critical issues, and presented these as an immediate outcome, or an immediate winning point for the Iranian regarding the memorandum of understanding.

‘Both sides are getting what they want’

Henry Ensher, a former US ambassador and deputy assistant secretary of state, says the release of frozen Iranian assets and the resumption of maritime traffic in the Strait of Hormuz suggest that Washington and Tehran are both “getting what they want”.

“Both sides are very interested to show that, somehow, they’ve gotten the upper hand, or at least that they’re not being taken advantage of,” Ensher said.

“The only way that we can determine what actually is going on is when money begins to move and when things begin to happen on the ground. So, for example, I did look today, and yes, ships went through the Strait of Hormuz, including oil tankers. This means that money is flowing, and both sides are getting what they want,” he added.

Iran’s chief negotiator and parliamentary speaker, Mohammad Bagher Ghalibaf, told state media on Monday that a deal under which the US would release $12bn in frozen Iranian assets had been finalized in Switzerland.

Iran negotiator says technical talks have concluded

Iran’s deputy foreign minister says technical talks in Switzerland aimed at reaching a final deal with the US have successfully concluded, and that the next phase of negotiations will involve the high-level committee that oversees the mediation.

Kazem Gharibabadi, who is also the head of Iran’s technical negotiating team, said four working groups had been established, according to Iran’s Press TV and the IRNA news agency.

They are the Sanctions Termination Working Group, the Nuclear Working Group, the Reconstruction and Economic Development Working Group, and the Monitoring and Implementation Working Group.

Gharibabadi said each group will focus on one issue.

“Based on the understandings reached, the upcoming negotiations will take place under the supervision of the high-level committee, with the participation of the speaker of the Majlis, the foreign minister of the Islamic Republic of Iran, the vice president of the United States, and the prime ministers of Pakistan and Qatar,” he added.

US believes Iranians ‘made key concessions’ on the nuclear file

The nuclear issue is the key point for the US.

That’s why JD Vance was in Switzerland for the first stage of the negotiations. They think that is the most important point. Trump has said on several occasions that Iran cannot have a nuclear weapon, and they wanted to essentially lay out the framework for what happens with the nuclear file.

And as he left Switzerland, JD Vance certainly believes that the Iranians had made some key concessions.

He said the Iranians were going to allow in nuclear weapons inspectors for the first time in a long time, and that the US is “going to bolster that inspection regime to make sure they can never have a nuclear weapon”.

He said technical committees will continue to discuss how they approach this, and JD Vance may well be back in Switzerland at some point in the future. Here’s the problem. The Iranians say the idea of letting inspectors in hasn’t been cleared by them.

And we’re going to see a lot of this over the next 50 days or so: when one country says this has been agreed, and another country disputes that. Effectively, we will find out what has been agreed, what is signed up, if and when we get to a final settlement of the ongoing talks in Switzerland.

Democrats say Trump’s actions on Iran ‘inconsistent with rhetoric’

Democrats on the US House Foreign Affairs Committee have accused the US president of granting Iran sanctions relief before making progress on key issues under negotiation, including Tehran’s nuclear programme.

In a post on X, they said the Trump administration’s actions were “inconsistent with its own rhetoric about how it would approach any deal” with Iran.

“While ending this illegal war is better than disastrously doubling down, the admin’s steps are inconsistent with its own rhetoric about how it would approach any deal,” the post said. “Trump officials repeatedly said sanctions relief would be tied to Iran addressing its nuclear program and terrorist proxies. Neither has been addressed, but the regime has been gifted sweeping sanctions relief it has dreamed of for decades.”

On Monday, the US Treasury Department waived sanctions on Iranian oil and fuel exports until ⁠August ⁠21. The move allows Iran to sell oil in US dollars for the first time in decades.

Ghalibaf defends decision to hold talks with US

Iran’s top negotiator has responded to critics of the Iranian delegation’s decision to hold talks with the US, saying the group went to Switzerland to stop Israel’s bloodshed in Lebanon.

“In one of the good program on IRIB, I saw them say that they wished Mehrabad airport had been closed so the negotiating team wouldn’t go to Switzerland,” Mohammad Bagher Ghalibaf wrote on X, referring to a segment that aired on the country’s state broadcaster.

“I tell those dear ones: If we hadn’t gone to Switzerland, every moment, more blood would have been shed from the Muslims and Shia of Lebanon,” he said.

Timeline of sanctions on Iran

• In 1979, after Iranian students storm the US embassy in Tehran and take diplomats hostage, Washington imposes its first sanctions on Tehran, banning Iranian imports and freezing $12bn in assets.
• In 1984, the US designates Iran a state sponsor of terrorism, and in 1996, Congress passes a law penalizing parties that invest in Iran’s oil sector. But the law is not implemented until 2010, due to European opposition.
• In 2006, the UN Security Council imposes its first sanctions on Iran for failing to stop its uranium enrichment program. The council continues to expand its nuclear-related sanctions in the years following.
• In 2012, the US sanctions Iran’s central bank, prompting Tehran to close the Strait of Hormuz to oil tankers. The European Union also agrees to ban imports of Iranian oil.
• Iran and world powers sign the Joint Comprehensive Plan of Action (JCPOA) in 2015, and the US and European countries offer sanctions relief.
• In 2018, Trump withdraws from the JCPOA and announces a new round of sanctions targeting Iran’s oil and banking sectors.
• After returning to office in 2025, Trump expands sanctions on Iran, including third parties trading with Tehran, such as Chinese “teapot” refineries and shipping companies buying Iranian oil.

Iran, Omani officials affirm ‘toll-free passage’ in Strait of Hormuz

Iran is framing the Strait of Hormuz as a bilateral issue between it and Oman. The two sides hold bilateral discussions on the waterway in the past couple of weeks.

This important line comes from Iran’s speaker, Mohammad Bagher Ghalibaf, and Oman’s foreign minister, Badr Albusaidi, who met in Muscat earlier. Albusaidi confirmed they held discussions on this important issue and said that “constructive talks were held on the recent Iran-US MoU, especially the Strait of Hormuz paragraph”.

He also said: “We affirmed commitment to international law and toll-free passage.”

The Iranian side wants to charge fees for security in its strategic waterway, and has mentioned very clearly that the situation in the Strait of Hormuz will not return to what it was before the war.

But for the time being, Iran and Oman say the Strait of Hormuz will be open toll-free.

Ghalibaf hails ‘good achievements’ in US-Iran talks

More from Ghalibaf’s comments on the outcome of the US-Iran talks in Switzerland.

• “In my view, this trip had good achievements, especially regarding the discussion of the strait, the Lebanon discussions, the question of oil waiver, and the matter of releasing the frozen funds, which is one of the steps we are taking forward. Of course, we believe we are still at the beginning of this work and must continue our efforts.”
• He confirmed the release of two trances of $6bn in frozen funds and said sanctions on Iran’s oil sector remain because a final deal has not yet been reached. “Therefore, we need to obtain waivers so that we can sell our oil and conduct our banking activities… These waivers have now been secured, and the relevant agreements have been signed.”
• On Lebanon, Ghalibaf said: “We agreed to establish a centre there to handle coordination”. The centre will address any disputes “in order to prevent a return to war, allow people to get back to their normal lives, and ensure that the areas occupied by Israel are vacated, and that Lebanon’s national sovereignty is respected”.
• On the Strait of Hormuz, he stated that “everyone should know that the administration of the strait will never return to the way it was before the war”. He added: “We agreed to establish coordination mechanisms [in the Strait of Hormuz], including a hotline and a centre that can be contacted whenever there is any ambiguity or dispute”.

Iran’s central bank governor says Tehran has ‘no obligation’ to buy US produce

Central Bank of Iran Governor Abdolnaser Hemmati has responded to Trump’s claim that released Iranian funds will be used to buy US produce.

Hemmati told the Tasnim news agency that Iran has “no obligation to buy” agricultural products from the US. He said the agreement between the US and Iran on the matter says the first $6bn can be used to buy “basic goods and medicine”.

But, “if the price and quality of American inputs are more suitable compared to other countries, we have no obstacle to purchasing from that country”, he said.

The remaining $6bn “will not necessarily be spent on basic goods, but Iran can also purchase other non-sanctioned goods”, he added.

There is a video circulating on the internet showing Trump saying that Iran must buy US produced agricultural products, and that American farmers would be happy.

However, his idea resembles the Chinese loan system where developing countries don't receive loans in cash. They have to spend any loan to purchase Chinese products and services. That is why African countries are flooded with Chinese products and, for example, construction of major infrastructure by Chinese engineers.

‘Huge change’ in US policy as Iran can now sell oil ‘at full price’

Since the signing of the interim agreement last week, the Americans have said that money will be released to Iran as the country hits certain benchmarks – that the US will unfreeze certain funds and give access to the international banking system and international markets.

But what has happened over the last 24-48 hours has been hugely significant because it is a reversal of US policy – sanctions on the Iranian oil industry.

For many, many years, the Iranians managed to sell the oil despite the sanctions, but at a huge discount. That’s because countries were concerned about being on the wrong side of US sanctions.

Now, Iran can sell the oil at full price, which will bring hundreds of millions of dollars into the Iranian economy. This is a huge change, but the Americans insist the Iranians still have to meet those benchmarks if other sanctions are to be lifted.

Pezeshkian calls for ‘full commitment to agreed obligations’

The Iranian president has issued a statement on X about the negotiations with Washington.

“The effectiveness of the talks depends on full commitment to the agreed obligations and their precise implementation,” Masoud Pezeshkian said.

“Progress on this path will be measured by practical adherence to accepted responsibilities. Statements outside the agreed text do not help advance the negotiations,” he said, without elaborating further.

It was not clear what statement he was referring to.

But Trump has made several comments in recent hours that Iranian officials have disputed. They include claims that Iran has agreed to allow nuclear inspections and that any released Iranian funds will be used to buy US agricultural products.

"... that Iranian officials have disputed ... "

There is no report found which confirms that the Iranians have disputed. There is a report which reads that Iran is not responded to Trump's claim that Tehran has accepted IAEA inspections.

US and Iran can work together to reopen Strait of Hormuz, Ghalibaf says

Iran’s chief negotiator says the strait will never return to the way it was before the war but Iran will fully comply with international law.

He spoke while on his way back from the first round of talks with the US in Switzerland.

Iran says any interaction with IAEA subject to ‘existing regulations’

There hasn’t been any direct statement from Iran on whether inspectors from the International Atomic Energy Agency (IAEA) will be let back into Iran or not.

However, Iran’s Foreign Ministry spokesman Esmail Baghaei has said that Iran did not make any commitments regarding its nuclear program during the talks in Switzerland.

He noted that any interaction with the IAEA would be under the existing regulations determined by Iran’s Parliament and Supreme National Security Council.

Iran is not denying [the potential for future inspections] and eventually it is expected to happen. But some of the issues will be how such inspections are regulated, whether Iran’s Parliament and Security Council will approve them and how to access some of these sites that were bombed.

So, not only legally, but logistically and operationally, there will be many challenges.

Paramilitary Houthi force reiterates support for Iran and Palestinians

The General Mobilization Forces of Yemen has reiterated “its firm and principled position” in backing the Palestinian people in a statement issued on the occasion of the Islamic New Year.

“The Palestinian cause remains the compass for all free forces, foremost among them the Axis of Jihad and Resistance, and the Israeli enemy entity must realise and understand that we will not accept the fragmentation of the battle,” it said, according to the Saba News Agency.

It also praised “the great victories achieved” by Iran against the US and Israel.

The General Mobilization Forces of Yemen is a paramilitary force established by Yemen’s Houthi rebels. The Houthis, who control the Yemeni capital, Sanaa, have launched missile and drone attacks on Israel as well as commercial shipping in the Red Sea, saying they were conducted in support of the Iranian and Palestinian peoples.

Iran Foreign Ministry spokesman news conference under way

Iran’s Foreign Ministry spokesman Esmaeil Baghaei says the country’s response to the US-Israel war “is a story of man’s steadfastness in defense, dignity, and pride”.

Baghaei is giving a news conference in Tehran.

‘No clear schedule’ for IAEA nuclear inspections: Baghaei

Iran’s FM spokesman Baghaei has said Iran’s delegation in Switzerland did not meet with the International Atomic Energy Agency (IAEA) chief Rafael Grossi during the latest round of talks.

He said there is no “clear schedule” for the agency to examine Iran’s nuclear facilities that were attacked by the US and Israel.

Iran’s released funds to be ‘employed with absolute liberty’

Iran will spend its released frozen assets as it sees fit after President Trump suggested the money will be used solely to purchase US agricultural goods.

“We have all come to know the true reason behind this war was to exterminate Iran’s civilization, and this goal has shifted into bringing US farmers massive revenues with frozen assets,” Baghaei told reporters.

“All in all, we are not faced with any restriction on how to channel these funds. Our assets will be employed with absolute liberty.”

Iran shifted to indirect, mediated talks in Switzerland after 90 minutes

Iranian Foreign Ministry spokesperson says the recent talks in Switzerland involving US, Iranian, Qatari and Pakistani officials lasted about an hour and a half before breaking for a recess.

After the break, the Iranian delegation chose not to resume the quadrilateral session and instead continued exchanging messages with the US through mediators, Baghaei said.

Baghaei did not specify the reason for the decision. However, reports suggested the Iranian delegation protested US President Donald Trump’s threatening social post during the talks.

Europe behaved irresponsibly during US-Israel wars on Iran

The Iranian spokesperson has condemned the stance of European powers during the recent attacks by the US and Israel on Iran.

Speaking to reporters, Baghaei said “Europeans have been marginalized” because of the policies they have been following in recent years.

“During the two wars imposed against the Islamic Republic of Iran, they adopted inappropriate positions, and the world has witnessed this behavior,” he said.

“This irresponsible behavior will definitely not increase the credibility and status of the European parties.”

Baghaei says Iran has evidence regional countries took part in US-Israeli war

Iran’s FM spokesman Baghaei said Iran has “conclusive evidence” that some regional countries participated in the US-Israeli war on Iran and could thus face legal repercussions.

“We regret to see that,” Baghaei said. “We will take whatever action is needed in this respect.”

Kpler says 71 ships transit Hormuz from Friday to Sunday

The data and analytics company says its tracking has confirmed that 71 ships traveled through the strait from Friday to Sunday with a peak of 35 crossings on Saturday.

In contrast, about 100 to 130 vessels a day made the journey before the US and Israel launched the war on Iran in late February and Tehran responded with its own attacks and the essential closure of the waterway.

Iran says Trump’s threats jeopardized Switzerland talks

Iran’s ambassador to the United Nations in Geneva, Ali Bahreini have said threats by Trump put the latest talks in Switzerland in serious jeopardy.

Shortly after the talks began on Sunday, Trump – who was not in attendance – wrote on Truth Social that “Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble,” referring to Hezbollah. “If they don’t, we’ll hit Iran very hard again, just like we did last week, only harder”, Trump said.

Bahreini said Iran would keep negotiating with the US as long as Washington showed that it was ready to engage in a constructive way.

He said the negotiating parties were trying to reach a resolution on all MoU clauses before proceeding to the nuclear issue.

Ankara says 11 Turkish-owned vessels crossed Hormuz since start of war

Two more ships have safely passed through the Strait of Hormuz and left the Gulf, according to Turkey's transport and infrastructure minister.

Abdulkadir Uraloglu said on X that Ankara is closely monitoring developments in the Strait of Hormuz and the Gulf “moment by moment” and remains in constant contact with vessels and Turkish citizens in the region.

With the departure of two vessels on the morning of June 21, the number of Turkish-owned ships that have safely exited the Gulf through the Strait of Hormuz since the start of the US-Iran war in February has risen to 11, he said.

A total of seven ships are still in the region, with 177 Turkish citizens serving on board, Uraloglu added.

One of the vessels sails under the Turkish flag.

Netanyahu says Israel should ‘free’ itself from arms dependency on US

Netanyahu says Israel needs to stop relying on US military assistance and instead develop its own weapons systems.

“I greatly appreciate the support we have received from our American friends, but we need to free ourselves from dependence and build our own independent armament system,” said Netanyahu while addressing troops last week, according to a video shared today by the Israeli premier’s office.

The comments come as Israel is under increasing pressure from the US to reel in its attacks on southern Lebanon, where it illegally occupies large swathes of territory.

Netanyahu has insisted Israeli troops will continue to occupy southern Lebanon and “demolish” Hezbollah infrastructure.

On May 30, 2026, a provision in a bill before the US Congress ties the US and Israeli militaries far more closely together, deepening their cooperation on weapons research, production and technology.

The proposal, titled the United States-Israel Defense Technology Cooperation Initiative, appears as Section 224 of the House Armed Services Committee’s version of the fiscal year 2027 National Defense Authorization Act (NDAA), the annual US defense policy bill.

Iran could receive up to $50bn in sanctions relief under final deal

A spokesperson said the agreement would allow Iran access to previously frozen assets, although the US says restrictions would remain in place under the arrangement.

According to sources familiar with the negotiations, two separate tranches of $6bn were originally agreed in Doha, with the final signing ceremony intended to take place in Switzerland. The Iranian spokesperson now says that process has been completed.

Under the reported framework, an initial $12bn in Iranian funds would be released. During the 60-day negotiation period, a further $12bn could be unlocked. If the parties ultimately reach a final agreement, the value of sanctions relief and released funds could reportedly rise to as much as $50bn.

A key point, however, is that the funds may not be released as unrestricted cash. US officials have long argued that such money could be diverted to the Islamic Revolutionary Guard Corps. Instead, the arrangement is understood to limit spending on goods such as food and medicine.

A third US condition is that the funds be used to purchase goods through approved US-linked markets and financial channels. It remains unclear whether Iran is fully comfortable with that provision, although Tehran has not publicly rejected it.

Iran weighing risks of imposing Hormuz fees after 60-day negotiating period

Sultan Barakat, professor in public policy at Doha’s Hamad Bin Khalifa University, says Iran may still try to impose some form of “service charge” for vessels passing through the Strait of Hormuz once the 60-day negotiating period runs out, potentially in coordination with Oman.

“After the Iranians left Switzerland, Iran’s chief negotiator Ghalibaf went straight to Oman, and I suspect that is being done in the spirit of trying to strengthen the sovereignty of Oman and Iran over the strait,” Barakat said.

However, Barakat described any attempt to levy fees on passage through the waterway as a “risky” strategy. He said Gulf states are hoping the ongoing negotiations will offer Iran enough economic incentive to reassess the costs and benefits of such a move.

Iran’s Araghchi travels to Pakistan for talks: Iranian broadcaster

Iran’s Foreign Minister Abbas Araghchi has arrived in Islamabad, Pakistan, where he and Iranian President Masoud Pezeshkian are on an official visit.

Araghchi, following a visit to Muscat, Oman, was welcomed in Islamabad by his Pakistani counterpart, Ishaq Dar, and other officials, reported Iran’s IRIB broadcaster.

Pakistan’s government has played a critical mediation role in the US-Iran negotiations, as evidenced with the formal title of the Islamabad Memorandum of Understanding for the 14-point document outlining the interim deal.

Iran keeping foreign navies out of Gulf ‘a national security priority’

Ali Ahmadi, from the Geneva Centre for Security Policy, says the Iranian threat of tolls for commercial vessels traversing the Strait of Hormuz is still a card it can play if negotiations falter with the US.

“Ultimately, I think that if we don’t get to a nuclear deal over the course of the next 60 days, this is going to come back up as an issue of friction – for Iran getting tolls or fees or however they’re described,” Ahmadi said.

“That is something Iran is going to use as a source of leverage during these negotiations.”

If talks break down Iran will have to come up with plans to “change its circumstances both economically and in terms of having a greater say over what happens”, in the Gulf region, said Ahmadi.

“Certainly keeping a large numbers of [Western] military vessels out of there is going to be a national security priority,” he added.

Trump says ‘no further’ Hormuz blockade, claims Iran agreed to ‘highest level’ nuclear inspections

The US president, in a social media post, has said that the Strait of Hormuz would remain open “with no further Naval Blockade”.

“However, all ships are remaining in place should it be necessary,” added Trump.

He also claimed Iran has “fully and completely agreed to highest level Nuclear inspections”.

“If they did not agree to this, there would be no further negotiations,” Trump wrote on Truth Social.

The US president further claimed that funds and sanctions relief being released to Iran would be held in escrow accounts “controlled by the U.S.A.” and used exclusively for “the purchase of food and medical supplies” from the United States, including “corn, wheat, and soybeans from our great American farmers”.

“fully and completely agreed to highest level Nuclear inspections”.

Iran agreed to readmit IAEA inspectors and establish practical modalities for the resumption of safeguard implementations following a brief pause in cooperation.

The memorandum of understanding (MoU) and subsequent joint statements are tied to ongoing US-Iran negotiations aiming to secure a final deal.

Alongside nuclear commitments, the broader diplomatic framework reportedly includes steps toward a regional ceasefire, the cessation of military operations in Lebanon, the reopening of the Strait of Hormuz, and the easing of economic sanctions against Iran.

So, what means "highest level" when Iran even says there is no schedule or time table negotiated yet.

Iran’s Pezeshkian lands in Islamabad for state visit during US talks

Iran’s President Masoud Pezeshkian has touched down in Pakistan’s capital for a one-day state visit, his first foreign trip since the US and Israel launched strikes on Iran on February 28.

The Iranian president’s plane, named “Minab 168”, landed at Rawalpindi’s Nur Khan Air Base.

He was given a red-carpet welcome and was greeted by Pakistan’s leadership including President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar, and Interior Minister Mohsin Naqvi.

Iran’s Ambassador to Pakistan Reza Amiri Moghadam and Foreign Minister Abbas Araghchi were also present.

The two sides are expected to “review the full spectrum of bilateral relations and explore new avenues for cooperation across trade, energy, border security, and regional connectivity”.

Ahead of Pezeshkian’s arrival, authorities tightened security across Islamabad. It’s Pezeshkian’s second visit to Pakistan as president following an August 2025 trip.

Oman, Iran say all arrangements over Hormuz must fully respect their sovereignty

Oman and Iran have said that all arrangements related to the Strait of Hormuz must fully respect their sovereign rights, the Oman news agency has said.

The agency said that following talks in Muscat, the two countries had renewed their commitment to preserving the Strait of Hormuz as a safe, open waterway for international navigation, and affirmed the importance of continuing cooperation to enhance maritime safety, freedom of navigation, and regional stability.

Trump has ‘tremendous leverage’ to tame Israel

Ali Akbar Dareini of Center for Strategic Studies says the United States has agreed to end the wars in both Iran and Lebanon in line with its memorandum of understanding with Tehran.

“The US has given the commitment on behalf of itself and Israel to end both wars and military operations on all fronts, including Lebanon,” he said.

However, Israel continues to violate the deal with its ongoing attacks and occupation of Lebanese territory. “Americans have failed to honor their commitments,” Dareini said.

Israeli Prime Minister Benjamin Netanyahu is “extremely unhappy” with the US-Iran interim agreement, he noted.

“Trump has tremendous leverage to tame Netanyahu and constrain Israel, and the question now is whether Trump has the political will to constrain Netanyahu or not.”

According to Dareini, Netanyahu is counting on the idea “he can violate the ceasefire and attack Lebanon, force Iran to retaliate, and expect the US to come to its aid to restart the war”.

".. and Israel.. "

The Israelis didn't want to participate in the MoU. They have said that they are not part of the process, and also have said that they are not binded.

So, how can Dareini say "... and Israel ..."

Arab states uniting against Iran would be a mistake: Russia

Russian Foreign Minister Sergey Lavrov made the remarks during a roundtable discussion in Moscow.

“We believe that it would be a mistake if Arab countries began to unite against the Islamic Republic of Iran,” he was quoted as saying by state-owned Ria Novosti news agency. “Thank God we haven’t seen such ideas.”

Russia and Iran are close allies cooperating in a wide range of areas from military to economic.

Oman and Iran reaffirm commitment to ensuring safe passage through Hormuz

The two sides were meeting in Muscat to discuss matters relating to the Strait in accordance with the provisions set forth in the “Islamabad” Memorandum of Understanding.

Both countries reaffirmed their support for the MoU and the importance of “continuing dialogue and coordination in support of its successful implementation,” the Oman News Agency said.

Iran says card-based banking hit by cyber attack on three lenders

Iran’s state-owned banking technology provider says attacks disrupted services at Bank Melli, Bank Saderat and Bank Tejarat.

This had prompted a temporary suspension of all card-related operations at the three banks to prevent further unauthorized access, the company told state TV, with cyber security teams working to restore normal operations.

The company’s public relations head said ATM services, point-of-sale terminals and mobile applications linked to card systems were all affected.

Major banks, including Melli, Saderat, Tejarat and the Export Development Bank of Iran, have faced disruptions first reported on June 14 after a cyber attack targeting a shared communication infrastructure, Iran’s banking coordination council has said.

Iranian state media said these took several days to resolve.

Officials have said the earlier incident, which Iranian media reported took several days to resolve, did not compromise customer data. There has been no official statement on who Iran believes was behind the recent cyber attacks.

Iranian authorities have previously blamed hostile foreign actors, such as Israel, for similar incidents. Israel has previously not commented on such allegations.

Progress on Hormuz but hundreds of ships still stranded

Sanctions have been a key point of concern for the Iranians when it comes to a pathway for diplomacy. But, there has been years of domestic mismanagement and international sanctions that have badly drained Iran’s economy.

Having the sanctions removed on Iran is being interpreted as a victory in Tehran. Iranians now are saying success has been met in that regard. Sanctions related to the export of oil have been removed. That comes after a waiver announcement by the US office of foreign asset control that’s valid through August 21.

How released frozen funds will be spent is still a matter of controversy between Tehran and Washington.

Diplomatically things are getting a little bit better. Today, Oman and Iran issued a joint statement saying they are talking about mechanisms to reopen trade through the Strait of Hormuz. This is a positive indication.

However, it remains to be seen how long it’s going to take for the strait to reopen, and until then, we see hundreds of ships stranded on both sides of Hormuz.

‘Major steps forward’ in US release of Iran’s seized assets

Muhammad Ali Shabani, a Middle East scholar and editor of the Amwaj.media platform, the US agreeing to allow Iran to receive oil sales in US dollars is a “huge” win for Tehran.

“I think there’s definitely scope for optimism and I would look chiefly in the way this kind of dialogue is being institutionalized. As we’re seeing it unfold, we have multiple working groups, we have experts continuing talks in Switzerland right now, and with reference to the frozen funds, I think they made major steps forward,” Shabani said.

The “bigger picture” is the United States issuing a waiver to permit the export of Iran’s vast oil and petroleum products, and allowing Tehran to receive money in US dollars for the sales, which was banned previously, he said.

“This matters quite a lot… this is huge. This is something that wasn’t even possible during the 2015 Iran nuclear deal… So I think there are a lot of contentions left to resolve, but there’s still a lot of optimism because the steps we’ve seen so far have been quite substantive.”

Iran president meets Pakistani army chief Asim Munir

Iranian President Masoud Pezeshkian, who arrived in Islamabad earlier in the afternoon, met Pakistani Army Chief and Chief of Defense Forces Field Marshal Asim Munir.

The visit – his first foreign trip since the United States and Israel launched strikes on Iran on February 28 – comes a day after Pakistan and Qatar announced that the opening round of US-Iran talks in Burgenstock, Switzerland, had yielded a 60-day roadmap towards a final agreement.

During his meeting with Munir, Pezeshkian praised Pakistan’s role in promoting dialogue and de-escalation, acknowledging Islamabad’s efforts to encourage a peaceful resolution “at a time of heightened geopolitical challenges,” according to a statement from the military’s media wing, ISPR.

Subsequently, Pezeshkian received a guard of honor at the prime minister’s house. He is now scheduled to hold bilateral meetings with Prime Minister Shehbaz Sharif.

Stalemate over Iran frozen assets a major sticking point

The issue of frozen assets was addressed in the MoU, but the exact definition was meant to be clarified in subsequent negotiations.

In the talks so far, there are two versions on the table. The US says it will release $12bn of those assets, on the condition that the money is used to purchase US goods. Iran rejects this, insisting it will decide how those frozen assets are to be used.

Iran is expecting to receive around $24bn in frozen assets. Its understanding of the MoU – the framework for these ongoing negotiations – was that $12bn would be released upon the signing of that document. However, this has not happened.

You now have [US Vice President JD] Vance saying there are conditions attached and that the funds must be used to buy American goods. This is a view shared by Trump. So this is an issue that has to be resolved, because it is a major sticking point in these negotiations.

Pakistan has played a very important role in talks

Pakistan has support not just from friendly countries such as Saudi Arabia, Qatar, Turkey and Egypt, but also from China.

Trump and Vance have been praising Pakistan’s role in the mediation. The Iranian confidence in Pakistan as an intermediary puts Pakistan in a very important position.

But there are obviously difficulties, because Islamabad had hosted talks that, despite the fact that they were near an agreement, did not happen.

However, Pakistan decided to continue its tireless efforts. The army chief then went to Tehran again, and Pakistan exchanged notes, acting as an interlocutor and taking notes from Tehran to Washington and from Washington to Tehran, in order to break the impasse.

Iran announces funeral schedule for late Supreme Leader Ali Khamenei

Iran has announced the schedule for the funeral of former Supreme Leader Ali Khamenei, who was killed in the opening wave of US and Israeli attacks earlier this year.

According to state media, ceremonies will begin in Tehran on July 4 and continue through July 6, before moving to Qom for a tribute on July 7.

Khamenei will be buried on July 9 in the northeastern city of Mashhad, his birthplace.

Authorities have declared public holidays in Tehran during the main funeral events to facilitate participation.

Officials expect around 20 million people to attend the Tehran ceremonies. The funeral was originally scheduled for March but was postponed due to the war.

On June 16, 2025, Netanyahu called on the US for help in the assassination of Khamenei, knowing that Hezbollah would respond. The preparation of the assassination was carried in the following months by the Israeli Mossad and the CIA. In December of that year Netanyahu vowed to attack Iran in 2026 again.

The Iranian leader was assassinated on February 28, 2026, the day Netanyahu resumed his preemptive 12-day war on Iran he waged in June 2025. Hezbollah responded to the assassination by vowing revenge, which it carried out on March 2nd.

Iran’s Pezeshkian to discuss bilateral trade, energy issues on Pakistan trip

The Iranian president is in Pakistan to discus bilateral issues; there’s a trade delegation, which is going to explore new avenues for enhancing trade with Iran.

Pakistan is hoping that the waiver from the US on the export of Iranian gas and oil could revive the Iranian-Pakistani pipeline, which was built in 2011 by the Iranians at the cost of $2bn, and is 1,150 kilometers long …

Pakistan was not able to do its end of the pipeline because of US sanctions on Iran.

Pakistan wants to continue mediator role ‘until lasting peace is achieved’

Pakistan’s PM Shehbaz Sharif has praised Iran’s role in securing a ceasefire and the MoU with the US.

“Please convey my warmest regards to His Eminence, the Supreme Leader Ayatollah Mojtaba Khamenei. Thanks to his leadership, Iran has been able to achieve this MoU and, as a result, a ceasefire with dignity and honor,” Sharif said at a news conference with Iran’s President Pezeshkian in Islamabad.

Sharif added that “we would like to continue our role until a lasting peace is achieved”.

Rubio lands in UAE on first stop of Gulf tour

Rubio has landed in Abu Dhabi, his first stop on the tour of Gulf nations.

He is set to meet Emirati officials tonight before traveling to Kuwait and then Bahrain for a GCC meeting tomorrow.

Sharif says no mention of Iran’s ballistic missile capability in MOU

During a joint news conference with Iran’s President Pezeshkian in Islamabad, Pakistani prime minister said:

“There is no mention of ballistic missiles in the MOU because it was never on the table,” Sharif said.

The prime minister warned against what he described as double standards, saying that Tehran should not face restrictions while others are free to possess ballistic missiles.

Pezeshkian says no negotiations will take place regarding Iran’s ballistic missiles

Iranian President Masoud Pezeshkian has addressed the ongoing negotiations between Tehran and Washington in the Pakistani capital, Islamabad.

Key points he made:

• We do not trust America because it attacked us twice during the negotiations, but we are still ready for dialogue and peace.
• We are holding on to our strengths in the upcoming negotiations, and no negotiations have taken place regarding ballistic missiles, nor will they.
• The prime minister of Pakistan and the Army chief made great efforts in the negotiations, and we appreciate their role.
• We believe that the progress of the West Asia region depends on peace, security and regional cooperation.
• We appreciate Pakistan’s role in facilitating the negotiations and reaching the memorandum of understanding.

Lebanon ceasefire separate from Iran deal: Rubio

Negotiating and maintaining a ceasefire in Lebanon will be kept separate from any deal with Iran, Rubio told reporters when he landed in Abu Dhabi.

“That process is separate. It’s separate because Lebanon is a sovereign country. It has a government, and when it comes to Lebanon and what’s happening inside of Lebanon, we’re going to negotiate and deal directly with the Lebanese government”, he said.

“There’s an Iranian issue with regards to Lebanon, and that is their support and sponsorship of Hezbollah. And so that factor will be discussed as part of our conversations with the Iranians. But as far as the future of Lebanon, the future of Lebanon belongs to the Lebanese people through their sovereign, elected government. And that’s who we’re going to be working with.”

Reminder:

On June 16, 2025, Netanyahu called on the US for help in the assassination of Khamenei, knowing that Hezbollah would respond. The preparation of the assassination was carried in the following months by the Israeli Mossad and the CIA. In December of that year Netanyahu vowed to attack Iran in 2026 again.

The Iranian leader was assassinated on February 28, 2026, the day Netanyahu resumed his preemptive 12-day war on Iran he waged in June 2025. Hezbollah responded to the assassination by vowing revenge, which it carried out on March 2nd.

Hezbollah was dragged even by the US in Netanyahu's resumption of his war from June 2025.

Safe, free passage in Strait of Hormuz vital, says Rubio

The Strait of Hormuz must be opened for safe and free passage, US Secretary of State Marco Rubio told reporters after landing in Abu Dhabi.

“It’s an international waterway. No country is allowed to charge tolls or fees on an international waterway. That’s existing international law,” he said.

Sharif warns of ‘spoilers’ attempting to unravel US-Iran negotiations

The Pakistani PM warns that efforts are under way to derail the agreement and progress made by the US and Iran.

“There are spoilers all over the world who want to scuttle this peace deal,” Shehbaz Sharif said, without mentioning specific countries or parties.

“They don’t want the Iranian nation, a great nation, to come out of the ashes of war and touch the zenith of glory.”

UN agency to begin evacuating thousands of seafarers stranded in the Gulf

The UN’s International Maritime Organization (IMO) will begin evacuating the more than 11,000 seafarers who have been stranded in the Gulf since the start of the war.

“After months of hardship and distress for thousands of innocent seafarers, and negative impact for the whole world, I welcome with deep satisfaction the peace agreement concluded between the United States and Iran, marking a decisive step towards restoring maritime security and bringing to an end the unacceptable attacks against civilian shipping,” IMO chief Arsenio Dominguez said in a statement.

“This large-scale operation will be carried out in close cooperation with Iran, Oman, all other coastal States in the region, the United States and the maritime industry. We have secured the necessary safety guarantees and have thoroughly verified the conditions for safe navigation to support these operations.”

IAEA inspectors will be in Iran at an ‘appropriate time’: Trump

Trump has told reporters outside the White House that International Atomic Energy Agency (IAEA) inspectors will be heading to Iran, adding there is “no rush”.

In response to a journalist who said that Tehran claims that there are no scheduled IAEA visits, he said: “They’re wrong, they know they’re wrong. They told us inside, and we have it down 100 percent. If they were right, I’d cancel the meetings right now.”

Earlier in this summary:

• Trump has claimed that Iran has “fully and completely agreed to highest level nuclear inspections”.
• ‘No clear schedule’ for IAEA nuclear inspections: Baghaei
• Iran says any interaction with IAEA subject to ‘existing regulations'