Trump claims 19 million barrels of oil passed through Strait of Hormuz US President Donald Trump has claimed that 19 million barrels of oil exited the Strait of Hormuz on Monday. In a post on his Truth Social account, he hailed the figure as "an all time RECORD". “Oil prices are tumbling down, and the world is a much safer place!
Iran will be 'only country' to determine how to use unfrozen assets: ambassador Tehran alone will decide how to use its frozen assets once they are unfrozen under a US-Iranian deal towards ending the Middle East war, an Iranian ambassador said Tuesday, contradicting US claims. As part of the deal under negotiation, Washington has agreed to release $12 billion in frozen funds to Iran, Iranian state media reported on Tuesday, and temporarily suspend sanctions on oil from the Islamic republic. US Vice President JD Vance said on Monday that Iranian assets had not yet been unfrozen as part of the deal and that, if they were, they could be used to buy US goods such as soybeans and would not fund terrorism.
Morning update The United States and Iran took another step toward implementing their memorandum of understanding after negotiations in Switzerland produced agreements on sanctions relief, nuclear inspections and the release of frozen Iranian assets. While both sides highlighted progress, disagreements remain over how released funds can be used and over ongoing tensions in Lebanon. Iranian Parliament Speaker Mohammad Bagher Ghalibaf said an agreement had been reached to release $12 billion in frozen Iranian assets.
Iran says it has no obligation to buy US produce Iran's central bank governor has pushed back against President Donald Trump's claim that released Iranian funds will be used to purchase American agricultural products, saying Tehran is under no obligation to do so. Speaking to the Tasnim news agency, Central Bank of Iran Governor Abdolnaser Hemmati said the agreement between Iran and the United States allows the first $6 billion of released funds to be used for the purchase of "basic goods and medicine". "We have no obligation to buy agricultural products from the US," Hemmati said, adding that Iran would consider American goods only if their price and quality were more competitive than alternatives from other countries.
Democrats criticise Trump over sanctions relief for Iran Democrats on the US House Foreign Affairs Committee have criticised President Donald Trump's decision to grant sanctions relief to Iran, arguing that Tehran received significant economic concessions before making progress on core issues under negotiation. In a post on X, committee Democrats said the administration's actions were "inconsistent with its own rhetoric about how it would approach any deal" with Iran. They noted that Trump officials had previously stated sanctions relief would be linked to progress on Iran's nuclear programme and its regional allies.
Trump says released Iranian assets will return through food purchases US President Donald Trump has said that any Iranian funds released under recent agreements will ultimately be used to purchase food from the United States, benefiting American farmers. Speaking to reporters, Trump said: "All that money's coming back in the form of purchases of food, which they desperately need. " He added that Iran's population required significant food imports and argued that the funds being unfrozen would effectively return to the United States through agricultural exports.
US suspends Iran sanctions after 'good progress' in talks Submitted by MEE staff on Mon, 06/22/2026 - 19:47 The first round of US-Iran negotiations concludes with a temporary lifting of sanctions but progress on the nuclear issue muddied by both sides US Vice President JD Vance speaks to the media after the US and Iran held high-level talks at the Lake Lucerne Summit in Switzerland, 22 June 2026 (Nathan Howard/AFP) Off The US suspended sanctions against Iran on Monday as the two sparred over nuclear and weapons inspections during a day of talks that US Vice President JD Vance characterised as "good progress". US Treasury Secretary Scott Bessent announced it would be temporarily lifting sanctions until 21 August under a 60-day general licence that authorises Iranian oil production and sales. Any transactions during this period must be made in US dollars.
Oil prices fall as markets respond to progress in US-Iran talks Oil prices declined on Tuesday as financial markets reacted to signs of progress in negotiations between Washington and Tehran aimed at ending the US-Israeli war on Iran. Brent crude fell 2. 8 percent to $78.
US suspending sanctions on Iranian oil until 21 August The US government has said it is suspending sanctions on Iran until 21 August. The Treasury said in a statement that it was waiving all existing US sanctions on "the Production, Delivery and Sale of Crude Oil, Petrochemical Products, and Petroleum Products of Iranian-Origin through August 21, 2026. " The waiver will also allow the US to import "petrochemical and petroleum products of Iranian origin" for domestic use.
Malaysian airline reduces fares after drop in jet fuel prices AirAsia X Chief Executive Officer Benyamin Ismail, said the Malaysian budget carrier has reduced fares by 5 percent since 15 June and plans to continue adjusting ticket prices as jet fuel costs decline. Lingam said the US-Iran memorandum of understanding had brought welcome relief to the aviation sector, with fuel prices falling significantly from the highs reached during the conflict. "The industry has been really affected by the rise in fuel prices.
Malaysia to lower diesel prices amid confidence in diplomacy Malaysian Prime Minister Anwar Ibrahim has linked a planned reduction in subsidised diesel prices to growing confidence that negotiations aimed at ending the Iran war could ease tensions in the Middle East and stabilise energy markets. According to Malaysia's Star newspaper, Anwar said his government had decided to lower, rather than increase, subsidised diesel prices from next month despite global uncertainty. He said Pakistani Prime Minister Shehbaz Sharif, who has played a key role in coordinating negotiations between the United States and Iran, had expressed confidence that the crisis in the Middle East could be eased.
Tehran says talks advance on sanctions and frozen assets Iran said "good progress" was made during the first day of talks with the United States on issues including the release of Iranian assets and relief from oil-related sanctions. Foreign ministry spokesman Esmaeil Baghaei said the Iranian delegation stressed that the conflict must end on all fronts, including Lebanon, while discussions also addressed "the issuance of necessary licenses for oil sales and the release of Iranian assets". Baghaei said discussions were held on the safe passage of ships through the Strait of Hormuz and “a mechanism was set up, which is important”.
Oil prices rise amid uncertainty over US-Iran talks Oil prices rose on Sunday as traders assessed the implications of ongoing US-Iran negotiations and the durability of the ceasefire between the two countries. According to Reuters, Brent crude futures climbed by $1. 09, or 1.
Iran says talks covered frozen assets, oil sanctions relief proposal Hussein Gurbanzadeh, a member of Iran’s team negotiating with the US, told state television that the issue of our frozen assets and the arrangements for their release has been discussed in today’s negotiations. He added that discussions had focused on sanctions relief tied to Iran’s energy sector. “In Switzerland, we discussed the temporary exemption from sanctions on oil and its derivatives, and the final draft of a proposal on this matter has been completed,” he said.
Sanctions waivers for Iranian oil to be issued soon, says Iranian negotiator A draft has been finalised regarding sanctions waivers for Iranian oil, a member of Iran's team negotiating with the US told state media on Sunday. They added that the waivers would be issued soon.
Oil sector could become early test of US-Iran accord, minister says Iran's oil industry will serve as a major test of any future agreement between Tehran and Washington, Iraninan oil minister Mohsen Paknejad has said. According to the ministry's Shana news agency, Paknejad said that the sector would demonstrate whether Western countries remain committed to the spirit of a final peace agreement should one be reached. Paknejad said Iran's oil industry could offer significant investment opportunities to the global economy in a post-agreement environment.
Trump threatens US tolls on Hormuz strait if Iran talks fail US President Donald Trump warned Saturday that Washington could impose tolls on the vital Strait of Hormuz waterway if negotiators are unable to complete a deal to end the Iran war. There will be no tolls "unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs," Trump posted on Truth Social.
Iran plans to charge insurance fees to vessels in Hormuz after US deal expires Submitted by MEE staff on Fri, 06/19/2026 - 17:19 Iran lays the groundwork for a new transit system in critical waterway, but will need Oman's buy-in to shore up legal defence Cargo ships are pictured off the coast of the Khor Fakkan container terminal, the only natural deep-sea port in the region and one of the major container ports in the emirate of Sharjah, along the Gulf of Oman, on 19 June 2026 (AFP) Off Iran wants to collect an “insurance fee” from vessels transiting the Strait of Hormuz after the 60-day agreement with the US expires, according to multiple media reports. The fee would effectively allow Iran to cement its sovereignty over the Strait of Hormuz, but would likely require the cooperation of neighbouring Oman, whose territorial waters border Iran’s. Iran agreed not to charge any fees in the waterway during the 60-day ceasefire with the US, termed the Islamabad Memorandum of Understanding, but the agreement left open the possibility of a new system afterwards.
Iran requiring ships to submit requests to cross Strait of Hormuz 48 hours in advance The Iranian maritime authority is requiring ships to submit requests to pass through the Strait of Hormuz 48 hours in advance of crossing, Al Nahar News reported. Al Nahar cited the Persian Gulf Maritime Organization, which stated that the advanced requests are needed to prevent delays in the Strait.
Iran to waive Strait of Hormuz fees during 60-day negotiations Iran 's Strait of Hormuz authority said on Friday it would waive planned fees to use the waterway during the 60-day negotiation period under the memorandum of understanding signed with the United States this week. Ships seeking passage through the strait while the interim agreement is in force must submit transit requests at least 48 hours before arrival, the Persian Gulf Strait Authority (PGSA) said in a notice. Iran will waive fees for security, safety, environmental services and related insurance during the 60-day window, while requiring vessels to coordinate routes and transit times in advance to avoid mine-affected areas, according to PGSA.
