Key development: The US-Iran peace deal that Trump signed at Versailles fell apart within 24 hours—talks scheduled for today in Switzerland were cancelled and fighting in Lebanon killed at least 24 people.
Diplomacy
(Update) The US-Iran talks planned for today in Switzerland got cancelled. Trump rushed to sign a deal at the G7 in France instead of waiting for the planned ceremony, then JD Vance cancelled his trip to Geneva. (France24)
Context: Trump and Iran’s President Pezeshkian signed an interim peace deal on Wednesday at Versailles during the G7, pre-empting the formal June 19 signing that was supposed to happen in Switzerland. The deal includes a 60-day timeline for a permanent agreement, uranium dilution by Iran, and a $300 billion reconstruction fund. Iran delayed sending its delegation over Israel’s Lebanon campaign, and Switzerland announced that the follow-up talks scheduled for June 19 are postponed entirely, with Vance cancelling his Geneva trip.
(Update) Israel and Hezbollah agreed to a ceasefire today despite the worst fighting since the US-Iran deal was signed. France24 reports at least 20 people died in Lebanon and 4 Israeli soldiers were killed, while another France24 report cites 18 killed in Israeli airstrikes this morning and 4 Israeli soldiers dead. (France24)
Context: The ceasefire came on June 19 after deadly exchanges put the broader peace deal under serious strain. Casualty figures vary across sources: one report indicates 20 Lebanese and 4 Israeli soldiers killed, while another cites 18 killed in Israeli airstrikes across southern Lebanon this morning and 4 Israeli soldiers dead. Israel’s far-right National Security Minister Itamar Ben Gvir responded to the fighting by saying “all of Lebanon must burn,” marking a concrete escalation in fighting intensity since the deal was signed.
US Policy
(Update) Trump called the Iran deal an “unconditional surrender” while his own VP delayed the trip to finalize it. He’s facing criticism from both parties at home. (Al Jazeera)
Context: Trump characterized the interim agreement as Iran being “finished” and their unconditional surrender, even as Vance cancelled his Geneva trip and threw the next phase of negotiations into doubt. The administration is receiving criticism from Democrats and Republicans over the rushed deal.
Sources: Al Jazeera
Economy
(Update) The US lifted its blockade of Iranian ports and more than 12 million barrels of oil moved through the Strait of Hormuz overnight. That’s the highest level since the war started in February. (France24)
Context: The blockade lift was part of the interim deal signed Wednesday. JD Vance announced Thursday that 12.5 million barrels passed through overnight, a concrete sign the agreement is having immediate economic effects even as the diplomatic process falls apart.
What to watch: Whether the ceasefire between Israel and Hezbollah actually holds, or if the collapse of US-Iran talks means the broader deal is already dead.