Recent reports indicate that the United States and Iran have electronically signed a memorandum of understanding. Several Iranian vessels have successfully passed through the American maritime blockade zone. Former President Trump stated that the Strait of Hormuz is "partially open" and will be fully opened on Friday, June 19th. However, the U.S.-Iran agreement does not mandate that Israel must withdraw its troops from Lebanon. Israeli Prime Minister Benjamin Netanyahu commented that "this struggle is not over yet."
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Gold and silver prices rallied significantly. In the domestic night futures session, the main Shanghai gold futures contract settled at 942.9 yuan per gram, a gain of 1.77%, while the main Shanghai silver futures contract rose by 2.49%.
Key Developments
A senior U.S. government official stated on the 15th that the United States and Iran have electronically signed a memorandum of understanding, but a formal signing ceremony is still scheduled for the 19th.
Former U.S. President Donald Trump said the Strait of Hormuz is "partially open" and will be fully opened on Friday, June 19th, when the U.S. and Iran will formally sign a memorandum of understanding.
Trump asserted that Iran will never possess nuclear weapons. The contents of the U.S.-Iran agreement will be made public after the official signing on the 19th. Sanctions on Iran will not be lifted until it fulfills its obligations.
On the 15th, Iranian President Ebrahim Raisi posted on his personal social media that the content agreed upon in the memorandum is a significant step towards stopping the war and initiating negotiations, but a final agreement has not yet been reached. Iran is prepared for all possible scenarios.
According to Iranian sources on the 16th, three oil tankers and two vessels carrying essential Iranian supplies have broken through the maritime blockade imposed by the United States.
Regarding navigation through the Strait of Hormuz, French President Emmanuel Macron stated that several European countries are ready to participate in escort operations in the strait. Trump, however, said that restoring navigation through the Strait of Hormuz "does not require much (external) help."
A U.S. official indicated that traffic will return to normal soon, "certainly within 30 days, provided Iran commits to clearing all naval mines." The U.S. "currently knows the locations of all the mines" and can, in fact, assist in disposal operations.
The U.S. official clarified that the U.S.-Iran agreement does not require Israel to withdraw from Lebanon, stating that "withdrawal is not a prerequisite of this agreement. If Iran cannot control Hezbollah in Lebanon and the latter attacks Israeli positions or towns, Israel will have the right to defend itself and retaliate." The official also believes that the ongoing conflict in Lebanon will not hinder the Trump administration's agreement with Iran.
Iranian Foreign Minister Hossein Amir-Abdollahian noted that Iran is committed to ending the war and aggression against Lebanon. He emphasized that the United States has a responsibility to ensure the proper implementation of the memorandum's terms and that all Israeli attacks on Lebanon must completely cease.
On the evening of the 15th, Israeli Prime Minister Benjamin Netanyahu held his first press conference since March this year, addressing issues including the U.S.-Iran memorandum of understanding. Netanyahu stated, "With or without this agreement, Iran will never have nuclear weapons. As long as I am prime minister, this will absolutely not happen."
Netanyahu claimed that it is due to Israel's long-standing struggle that the country has been spared from "the immediate danger of nuclear annihilation" and that this struggle has inflicted significant damage on Iran's economy. However, he added that "this struggle is not over yet."
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