Keep pulling the thread on Nick Wadhams.
The United States and Iran announced a proposed interim peace agreement to end nearly four months of fighting and reopen the Strait of Hormuz.
President Donald Trump stated that the Strait of Hormuz will reopen entirely and toll-free after the peace deal with Iran is signed.
Brent crude oil prices traded below $85 a barrel in reaction to the news of a proposed peace deal between the US and Iran.
Israeli officials stated on X that they are not bound to the proposed peace agreement between the United States and Iran.
The US-Iran peace agreement includes extending the current ceasefire for a further 60-day halt in fighting.
The US-Iran agreement establishes a 60-day window to negotiate major issues surrounding Iran's nuclear program.
Iran is believed to have approximately $24 billion in assets frozen in foreign bank accounts due to US sanctions.
Iran has demanded the release of $12 billion of its frozen assets at the start of the negotiation period, with the remainder to be released later.
Iran's primary demand in negotiations is the complete lifting of all US primary and secondary sanctions on its economy, which would require approval from the US Congress.
Israeli Prime Minister Benjamin Netanyahu was instrumental in persuading President Trump to initiate a military strike against Iran.
Israel has grave concerns about Iran's ballistic missile and drone programs, as well as its support for proxy groups like Hezbollah and Hamas.
President Trump told Axios that recent Israeli strikes in southern Beirut against Hezbollah targets had delayed the signing of the peace agreement with Iran.