Updated: June 24, 2026 7:46:59 am IST
US, Iran News Live: United States President Donald Trump says Iran will only be able to use any funds released from frozen accounts to buy food and medical supplies from the United States.
US-Iran war live: In a rebuke to President Donald Trump, the Republican-led Senate voted 50-48 to end US military hostilities with Iran, its first attempt to prevent conflict. This step has been taken when Trump has already reached an interim peace deal with Tehran. The practical impact of the vote remains uncertain because the proposal relies on the 1973 War Powers Act, a law whose application has long been disputed, Bloomberg reports. The measure requires the United States to cease hostilities against Iran unless Congress explicitly authorizes further military action.
Four Republican senators, Lisa Murkowski, Bill Cassidy, Susan Collins and Rand Paul, joined with Democrats in supporting the resolution. Democratic Senator John Fetterman voted against it. Republican senators Mitch McConnell and David McCormick, both of whom have previously supported military action against Iran, abstained from the vote.
The proposal had already been approved by the House and, under the War Powers Act, cannot be vetoed by the President.
Trump placed conditions on releasing funds to Iran
President Donald Trump said Iran would only be able to use any funds released from frozen accounts to buy food and medical supplies from the United States, addressing a key point in peace talks that both sides say are making progress.
“The money that the US Treasury is issuing and/or issuing sanctions goes into escrow controlled by the United States, and will be used exclusively to purchase food and medical supplies from the United States,” Trump said in a post on Truth Social on Tuesday.
However, Iran rejected that characterization. According to Bloomberg, Foreign Ministry spokesman Ismail Baghai said the funds would be available for Tehran to use “freely, in whatever manner it deems appropriate” rather than being limited to purchases from the US.
Iran has said that under ongoing negotiations, $12 billion of frozen assets could be released in two equal tranches. This figure was given by Mehr news agency quoting Deputy Foreign Minister Kazem Garibabadi. Washington has not confirmed the amount under discussion.
The issues being negotiated include the release of funds as part of efforts to end the nearly four-month conflict and ensure the continued flow of shipping through the Strait of Hormuz.
decline in oil
Meanwhile, oil prices extended losses as more tankers began transiting the Strait of Hormuz openly, boosting confidence that disruptions to global energy supplies could ease.
Brent crude slipped below $77 a barrel, after falling 1.1% in the previous session, while West Texas Intermediate traded near $73, according to Bloomberg. Tankers are sailing swiftly through the strategic waterway with their tracking signals turned on, while the International Maritime Organization said it has received safety assurances that will allow hundreds of ships to leave the Persian Gulf.
Both the US and Iran have pointed to early progress in talks aimed at ending the conflict that began in late February, although talks are expected to be lengthy and differences remain on key issues.
In addition to diplomatic developments, Iran and Oman have begun work on an agreement covering the administration of the Strait of Hormuz, including transit costs. The proposal comes amid concerns that Tehran could seek to impose tariffs on ships using the vital shipping route.
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Four Republican senators, Lisa Murkowski, Bill Cassidy, Susan Collins and Rand Paul, joined with Democrats in supporting the resolution. Democratic Senator John Fetterman voted against it. Republican senators Mitch McConnell and David McCormick, both of whom have previously supported military action against Iran, abstained from the vote.
The proposal had already been approved by the House and, under the War Powers Act, cannot be vetoed by the President.
Trump placed conditions on releasing funds to Iran
President Donald Trump said Iran would only be able to use any funds released from frozen accounts to buy food and medical supplies from the United States, addressing a key point in peace talks that both sides say are making progress.
“The money that the US Treasury is issuing and/or issuing sanctions goes into escrow controlled by the United States, and will be used exclusively to purchase food and medical supplies from the United States,” Trump said in a post on Truth Social on Tuesday.
However, Iran rejected that characterization. According to Bloomberg, Foreign Ministry spokesman Ismail Baghai said the funds would be available for Tehran to use “freely, in whatever manner it deems appropriate” rather than being limited to purchases from the US.
Iran has said that under ongoing negotiations, $12 billion of frozen assets could be released in two equal tranches. This figure was given by Mehr news agency quoting Deputy Foreign Minister Kazem Garibabadi. Washington has not confirmed the amount under discussion.
The issues being negotiated include the release of funds as part of efforts to end the nearly four-month conflict and ensure the continued flow of shipping through the Strait of Hormuz.
decline in oil
Meanwhile, oil prices extended losses as more tankers began transiting the Strait of Hormuz openly, boosting confidence that disruptions to global energy supplies could ease.
Brent crude slipped below $77 a barrel, after falling 1.1% in the previous session, while West Texas Intermediate traded near $73, according to Bloomberg. Tankers are sailing swiftly through the strategic waterway with their tracking signals turned on, while the International Maritime Organization said it has received safety assurances that will allow hundreds of ships to leave the Persian Gulf.
Both the US and Iran have pointed to early progress in talks aimed at ending the conflict that began in late February, although talks are expected to be lengthy and differences remain on key issues.
In addition to diplomatic developments, Iran and Oman have begun work on an agreement covering the administration of the Strait of Hormuz, including transit costs. The proposal comes amid concerns that Tehran could seek to impose tariffs on ships using the vital shipping route.
Follow all updates here:
June 24, 2026 7:46:58 am First
US, Iran news live: Oil prices fall as tankers exit Hormuz
US, Iran news live: Oil prices fell on Wednesday, extending this week’s losses and trading near a four-month low in the previous session, on signs that more oil tankers stranded in the Gulf since the start of the Iran war are set to exit the Strait of Hormuz.
Brent crude futures were down 37 cents, or 0.5%, at $76.71 a barrel by 0043 GMT, and U.S. West Texas Intermediate slipped 36 cents, or 0.5%, to $72.85 a barrel. Both benchmarks fell about 1% on Tuesday, touching their lowest levels since early March. (Bloomberg)
June 24, 2026 7:38:48 am First
US, Iran news live: Sharif Pezeshkian agrees to missile program not part of MOU
US, Iran news LIVE: Pakistan Prime Minister Shehbaz Sharif assured visiting Iranian President Masoud Pezeshkian of Islamabad’s continued support as the two leaders met in Islamabad following the US-Iran ceasefire, which Pakistan has said helped.
“We will never let you down,” Sharif said during a meeting with Pezeshkian on Tuesday. The Iranian President is in Islamabad for talks aimed at strengthening ties between the neighboring countries.
Sharif said Pakistan will continue to play its role as a mediator until lasting peace is achieved. He also said that the memorandum of understanding between Iran and the United States does not include any reference to Tehran’s ballistic missile program.
June 24, 2026 7:30:14 am First
US, Iran news live: Pezeshkian says missile program not covered under MOU
US, Iran News Live: Iranian President Massoud Pezeshkian on Tuesday said the country’s missile program is not covered under the 14-point memorandum of understanding (MOU) with the United States and will not be included in any future agreement.
Speaking at a press conference in Islamabad during his visit to Pakistan, Pezeshkian rejected suggestions that Iran’s missile capabilities could form part of talks with Washington.
“Discussion on our missiles does not exist in the MOU, and it never will,” the Iranian president said, according to a video released by state broadcaster Islamic Republic of Iran Broadcasting (IRIB), underscoring Tehran’s position that its missile program is non-negotiable.
June 24, 2026 7:21:52 am First
US, Iran news live: US Senate votes to end Iran war
US, Iran news live: The Republican-led Senate voted for the first time to end a US war with Iran, breaking with President Donald Trump over an unpopular foreign conflict that has raised Americans’ cost of living, roiled markets and caused a global economic downturn.
The practical impact of Tuesday’s 50-48 vote is unclear, as the President has reached an interim peace deal with Iran and the resolution invokes legally controversial congressional authority stemming from the 1973 War Powers Act. (Bloomberg)
June 24, 2026 7:06:09 am First
US, Iran news live: Trump sets a condition for releasing Iran funds
US, Iran news live: President Donald Trump said any funds released from Iran’s frozen accounts would be limited to purchasing food and medical supplies from the United States, seeking to clarify a key issue in the ongoing peace talks both Washington and Tehran are pursuing.
“The funds that the US Treasury is issuing and/or issuing sanctions go into escrow controlled by the United States, and will be used exclusively for the purchase of food and medical supplies from the United States,” Trump said in a post on Truth Social on Tuesday.
