Summary
President Donald Trump said US relations with Iran have been normalized and that Tehran will commit not to possess nuclear weapons.
Odaily, a cryptocurrency-focused media outlet, reported on June 16 that Trump said "the relationship between the United States and Iran is now normalized."
Trump also said he would release the agreement with Iran. He plans to discuss the document with the press in the coming days and hold a news conference on the Iran deal.
Vice President JD Vance said Iran would pledge not to acquire nuclear weapons. Trump had earlier said no tolls would be imposed on transit through the Strait of Hormuz, and that the timeline for negotiations with Iran could be longer or shorter than 60 days.
Trump also said he hopes a formal signing will be completed before the documents are made public. The US and Iran are reportedly scheduled to hold an official signing ceremony in Switzerland on Friday.
Markets are watching for the release of the US-Iran agreement and whether a formal signing takes place. If shipping through the Strait of Hormuz returns to normal and verification terms related to Iran's nuclear program are clarified, geopolitical risks in the Middle East and concerns over oil supplies could ease further.
Minseung Kang
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