US-Iran War News Live Updates: Trump calls $300bn Iran payment claim ‘Fake News’, says Iran will never have nukes

Shiite women take pictures of a giant billboard that shows the late Iranian leader Ayatollah Ali Khamenei, center, and Iranian Supreme Leader Ayatollah Mojtaba Khamenei, with Arabic writing that reads: "Thank you Iran", in Dahiyeh, Beirut's southern suburbs, Lebanon. (Photo: AP)

US President Donald Trump on Monday pushed back sharply against financial reporting around the landmark US-Iran peace deal, calling claims that Washington would pay Tehran $300 million “Fake News put out by the Dumocrats,” while declaring in the same Truth Social post that “Iran has agreed to never have a Nuclear Weapon”  his most direct public endorsement yet of a key non-proliferation clause in the memorandum of understanding signed between the two sides.

Signing set for Friday in Switzerland: Trump and Iran declared they had reached an initial agreement intended to end more than three months of war and reopen the Strait of Hormuz, with a formal signing ceremony scheduled for Friday, 19 June, in Switzerland. Final negotiations will have a 60-day window focusing on nuclear weapons development, remaining sanctions, and UN Security Council and IAEA resolutions regarding Iran.

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5 latest developments

Deal confirmed : The US-Iran agreement, set to be signed on Friday in Switzerland, will formally put an end to the war launched on 28 February by the US and Israel against the Iranian regime, which subsequently spread across the Middle East.

Hormuz reopening, oil prices tumble:  Trump on Sunday authorised the toll-free opening of the Strait of Hormuz and the immediate removal of the US naval blockade. The price of US crude oil fell more than 4.5% to $80 per barrel  its lowest level since early March  while Brent crude also tumbled about 4% to $83.

Nuclear clause in, stockpile unresolved:  Vice President Vance said Iran has “committed to destroy and dispose of their stockpile of highly enriched material,” but the MOU gives both sides 60 days to work out the specifics. Trump on Truth Social declared Iran has agreed to never possess a nuclear weapon, calling it his most public assertion of the clause so far.

Netanyahu struggle ‘not over’: Israeli Prime Minister Benjamin Netanyahu said Israel is not a party to the negotiated deal but stated he and Trump are “in full agreement” that Iran must not be permitted to obtain nuclear weapons.

Israel-Lebanon flashpoint threatens deal: Israel said its forces would not withdraw from territory seized in Lebanon, while Iranian Foreign Minister Abbas Araghchi warned that Israeli strikes there must completely halt and that Washington bears responsibility.

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