Iran-US Peace Deal Reportedly Allows Immediate Oil Sales, Easing Sanctions

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Iran-US war latest: Trump’s peace deal to allow Tehran ‘to sell oil and fuel immediately’

Reports suggest the deal would appear to offer Iran major concessions that would boost its economy

The peace agreement struck between Donald Trump and Iran will allow Tehran to immediately resume selling its oil, according to a report, in what would appear to be a major concession from Washington.

According to the Wall Street Journal, the provision for waiving ‌sanctions on Iranian oil sales would take ⁠effect once the agreement is signed later this week in an economic boost for Tehran.

It also covers services including banking, transportation and ‌insurance to facilitate ​the sales, ‌the newspaper ⁠reported.

Earlier on Tuesday, Trump warned that “all hell will rain down” on Iran if the regime does try to obtain nuclear weapons.

“They’re not going to acquire a nuclear weapon. If they do, all hell will rain down on them,” Trump reassured in comments to reports at the G7 summit in France, as leaders discuss next steps on the conflict.

He said the preliminary deal as it stands “says it loud and clear: they’re not going to develop it ... and if they do, they suffer unbelievable consequences”.

US to allow Iran to immediately begin selling oil and fuel under deal - report

The US will allow Iran to immediately begin selling oil and fuel under the memorandum of understanding the two sides reached to end war, the Wall Street Journal reported on Tuesday.

It would appear to be a major concession from Washington.

The provision for waiving ‌sanctions on Iranian oil sales would take ⁠effect once the agreement is signed later this week in an economic boost for Tehran.

It also covers services including banking, transportation and ‌insurance to facilitate ​the sales, ‌the newspaper ⁠reported.

The outlet cited people familiar with the agreement in its report - we’re working to bring you more information.

Alex Croft16 June 2026 17:24

Beijing welcomes Iran-US deal and urges further talks

China's foreign minister Wang Yi has welcomed the first phase of the Memorandum of Understanding between Iran and the US and urged sustained efforts to advance talks and promote peace in the Middle East.

Wang made the remarks during a phone call with his Pakistani counterpart in which he also congratulated Pakistan on helping to facilitate the interim deal between Tehran and Washington, his ministry said.

"There must be no turning back, still less a return to the use of force," Wang told Ishaq ​Dar, noting that the second stage of negotiations would be more difficult.

Alex Croft16 June 2026 17:20

I’ve not been snubbed by Trump, Starmer insists

Donald Trump has raised no concerns with me over defence spending, Sir Keir Starmer has insisted, just days after his defence secretary resigned and accused him of being unwilling to put enough resources into Britain’s ailing military.

Speaking from the G7 Summit in Évian-les-Bains, the prime minister denied that he was snubbed by the US president as it emerged the pair had no bilateral meetings planned for Tuesday or Wednesday.

Sir Keir, who has had an increasingly fractious relationship with Trump in recent months, insisted the pair “get on really well”, adding that they had a “very honest and frank conversation” on Monday when they spent two hours together at a working dinner.

I’ve not been snubbed by Trump — we get on really well, Starmer insists

Speaking from the G7 Summit in Évian-les-Bains, the prime minister denied he was snubbed by Trump as it emerged the pair had no bilateral meetings planned for Tuesday or Wednesday

James Reynolds16 June 2026 17:00

Israeli strikes kill 4 in southern Lebanon

Israeli drone strikes targeted three vehicles in southern Lebanon on Tuesday, killing at least four people and wounding others, Lebanon's National News Agency reported.

Two people were killed in a double-tap strike, with a drone hitting a car in the village of Mayfadoun followed by a second strike after people had gathered at the scene.

Another drone strike on the town of Shoukin killed two other people, the agency said.

There was no immediate comment from the Israeli military on the reported strikes.

Alex Croft16 June 2026 16:46

Recap: Trump's staggering indictment of Israel's record on Lebanon

In comments to reporters at the G7 conference today, Donald Trump attacked Israel’s record on Lebanon and warned the issue could undermine his efforts to end the war with Iran.

“Israel is fighting Hezbollah too long and too many people are being killed,” he said.

“And you don’t have to knock down an apartment house every time you’re looking for somebody. Because there are a lot of people in those apartment houses. And they’re not all Hezbollah, I can tell you.”

Trump said he was “not happy” with how Israel “has handled themselves” with regard to Lebanon and Hezbollah.

“They should have been able to do the job faster. It just goes on forever. And when that happens, it throws a negative light on the big deal, and that’s the deal with Iran.”

Trump suggested Syria’s Ahmed al-Sharaa would be able to better lead the fight against Hezbollah.

“I suggested to Israel to let Syria take care of Hezbollah. Because to be honest with you, I think they’d do a better job of doing it.”

Sharaa, he said, has “protected everything that I’ve asked for”.

“And if Israel can’t do the job without killing everyone else, he’ll do the job. Syria will do the job.”

Trump said that while he has a “great relationship” with Israeli PM Benjamin Netanyahu, he “has to be more responsible” on Lebanon.

James Reynolds16 June 2026 16:30

Israel must withdraw from 'occupied areas' in Lebanon, says Iran's top negotiator

Israel must withdraw from "occupied areas" in Lebanon, Iran's top negotiator Mohammad Baqer Qalibaf said on Tuesday in a call with Lebanon's Parliament Speaker Nabih Berri

His comments came as Tehran and Washington planned to sign a peace deal on Friday to end their war.

"The people of southern Lebanon must return to their homes", Mr Qalibaf added in a post on his Telegram channel.

Alex Croft16 June 2026 16:14

Recap: Trump says Netanyahu should be more responsible with Lebanon

Donald Trump told reporters at the G7 summit on Tuesday that he has a “great relationship” with Israel’s Netanyahu, but that he “has to be more responsible with respect to Lebanon”.

“I didn’t like that he did an attack ... that was too much,” he said, after Israel struck Beirut over the weekend, straining the nascent framework for a deal to end the war.

“Without the US, there would be no Israel ... because no other president was willing to do what I did,” he said.

Trump assessed that Israel has been fighting Hezbollah for “too long” and suggested the conflict with the Iran-backed group should be left to Syria to deal with.

James Reynolds16 June 2026 16:00

Iran will soon connect its electricity grid with Qatar's, energy minister says

Iran will soon begin connecting its electricity grid to Qatar's, with studies in the final stages and the project entering the early phase of execution, Iran's Energy Minister said on Tuesday according to Tasnim news agency.

Abbas Aliabadi added that studies were also underway to link Iran's power grid with those of other Gulf countries.

James Reynolds16 June 2026 15:30

Recap: Ending war in Lebanon 'most important issue' says Araghchi

Iranian foreign minister Abbas Araghchi said an end to the war in Lebanon was the ‘most important issue’ in the deal with the United States.

“This is perhaps the most important issue in the memorandum - the declaration of an immediate and permanent end to the war on all fronts, including in Lebanon,” he said.

Israeli officials have argued that Israel is not bound by the agreement as they were not involved in the talks. But Araghchi said in Tehran’s view, the two parties to the memo are the US and Israel on one side, and Iran and Hezbollah on the other.

“Without the withdrawal of Israeli forces from the territories they occupied during this war, the war has not fully come to an end,” he said, adding that further Israeli attacks on Lebanon would be considered a “violation” of the memorandum of understanding.

James Reynolds16 June 2026 15:00

Breaking: Switzerland unveils location for signing of Iran MOU

The Swiss foreign ministry tells The Independent that the signing is currently scheduled to take place on Friday, 19 June at Bürgenstock in the canton of Nidwalden.

The location was suggested by the Pakistani and Qatari mediators, as well as by the US and Iran, they say.

Switzerland is “creating the practical and diplomatic conditions necessary for this meeting to take place on Swiss territory”, they say.

The ministry says they have been in contact with the US, Iran, Pakistan and Qatar for several days on the possible signing of the Memorandum of Understanding.

James Reynolds16 June 2026 14:51