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The senior U.S. official dismissed reports indicating Iran could receive as much as $12 billion in economic relief immediately upon signing the agreement.
The figure represents about half of the flow of oil that has been stuck in the Strait of Hormuz since the Iran war started, he said.
Iranian Foreign Minister Abbas Araghchi said that a deal has ‘never been closer.’
Iran rejected reports suggesting a deal had been concluded and said that Iranian authorities had not yet completed their review of the proposed text.
Oil cartel expects lower demand this year amid Middle East tensions.
The president said that it was his understanding that Iranian leader Mojtaba Khamenei approved the deal.
The European Central Bank lifted its benchmark interest rate to 2.25 percent, citing upside risks to inflation and uncertainty over the Middle East conflict.
Central Command added that it has disabled nine vessels and redirected 135 ships that complied with the military’s directives.
The measures target procurement networks accused of assisting Iran in acquiring weapons and military-related equipment.
The embassy urged all U.S. citizens in the country to seek overhead cover and shelter in place immediately.
The alert points citizens toward a Level 4 ‘Do Not Travel’ advisory as the embassy suggests possible travel disruptions with short notice could occur.
The Indian Foreign Ministry condemned the U.S. strike, saying three Indian nationals remain missing.
‘Their military is defeated, and their economy is lost,’ the U.S. president said on Truth Social.
‘Recent conditions and developments must be carefully reviewed,’ said an Iranian Foreign Ministry spokesman.
In response, Iran’s top military leaders announced that Iran would again close the Strait of Hormuz.
The attacks came just hours after U.S. Central Command said its forces completed ‘self-defense strikes’ against Iran.
China’s teapot refiners cut output because of a weak economy and reliance on stockpiles that won’t last.
Beijing is leaning on stockpiles built up over years to ride out the Strait of Hormuz shutdown. Analysts say these reserves have limits.
The vessel’s crew didn’t comply with directions from the U.S. military, CENTCOM said.
Trump had earlier vowed to retaliate, hours after he announced negotiations with Tehran were in their ‘final throes.’
