A U.S.-Iran peace deal to end their conflict has triggered a public clash between President Trump and Israeli PM Netanyahu. The deal reopens the Strait of Hormuz, but Netanyahu rejects its terms, particularly a halt to Israeli operations in Lebanon. Trump accused Netanyahu of having "no judgement," while the Israeli leader faces intense criticism at home ahead of an October election. Global markets have surged on the news of the ceasefire.
Trump-Iran peace deal
- ▪Key terms of the deal include reopening the Strait of Hormuz and the unfreezing of $12 billion in Iranian assets
- ▪Iran has demanded that the ceasefire cover military operations on all fronts, including Israeli action in Lebanon
- ▪The memorandum of understanding between the U.S. and Iran is expected to be signed on Friday in Switzerland
- ▪The agreement includes a 60-day ceasefire, during which negotiations for a final deal will take place
- ▪CIA Director John Ratcliffe reportedly told Donald Trump that U.S. intelligence doubts Iran will make its required nuclear concessions
- ▪The U.S. and Iran reached a preliminary agreement to end a conflict that began on February 28
- ▪The initial 60-day talks are not expected to address Iran's missile program or its support for regional armed groups
Trump-Netanyahu rift
- ▪Benjamin Netanyahu stated that Israel is not a party to the U.S.-Iran agreement and is not bound by its terms
- ▪Israel's far-right national security minister, Itamar Ben-Gvir, rejected the agreement, stating it does not ensure Israel's security
- ▪U.S. President Donald Trump accused Israeli PM Benjamin Netanyahu of showing "no f—ing judgement" for striking Beirut during negotiations
- ▪Benjamin Netanyahu faces an election by the end of October and is currently projected to lose
- ▪Netanyahu has insisted Israel will maintain its 'freedom of action' against Hezbollah in southern Lebanon
- ▪Israeli opposition leader Yair Lapid called the deal "one of the most shocking failures in Israel’s foreign and security policy."
Market surge on ceasefire
- ▪Global markets reacted positively to the U.S.-Iran deal, with stocks in Asia and Europe rising
- ▪S&P 500 futures rose 1.29% after the U.S.-Iran deal was announced
- ▪The conflict, which closed the Strait of Hormuz, cost UK drivers an estimated £4 billion in higher fuel prices
- ▪The price of Brent crude oil fell from $92 to $82 per barrel following news of the agreement
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