Trump Announces Iran Ceasefire Deal on June 14, U.S. to Lift Sanctions and Unfreeze $25B in Assets

According to President Trump, a ceasefire agreement with Iran was finalized on June 14. Trump stated on social media that the U.S. will approve unrestricted passage through the Strait of Hormuz and immediately lift the naval blockade on Iran. Under the deal, Iran will permanently renounce nuclear weapons and dismantle its nuclear program in exchange for the phased release of approximately $25 billion in frozen Iranian overseas assets and sanctions relief. The formal agreement signing ceremony is scheduled for June 19 in Geneva, according to Iranian Deputy Foreign Minister Kazem Gharibabadi reported by the New York Times.

Israel, which jointly launched the initial air strikes on February 28, has been excluded from the negotiations, sparking discontent among Israeli officials. Israeli media reports indicate frustration over Iran's ballistic missile capabilities not being addressed in the agreement. Trump also sharply criticized Israeli Prime Minister Benjamin Netanyahu for conducting air strikes near Beirut just hours before the signing, calling the decision a lack of judgment.