US President Donald Trump has expressed contradictory sentiments regarding a Memorandum of Understanding with Iran, stating during the G7 summit that the agreement is not final and that he reserves the right to resume military action if dissatisfied, despite leaked documents suggesting Iran would immediately reopen the Strait of Hormuz and be allowed unrestricted oil sales upon signing. This interim deal, reportedly matching leaked texts, is slated for formal signing in Geneva on Friday, initiating a 60-day negotiation period for a final agreement aimed at preventing Iran from developing nuclear weapons, under which the US would secure significant reconstruction funds for Iran and withdraw all sanctions. However, the immediate granting of oil waivers to Iran, even as talks commence, is seen as diminishing a key bargaining chip for the United States, as such sanctions previously severely limited Iranian oil exports.

US President Donald Trump has expressed contradictory sentiments regarding a Memorandum of Understanding with Iran, stating during the G7 summit that the agreement is not final and that he reserves the right to resume military action if dissatisfied, despite leaked documents suggesting Iran would immediately reopen the Strait of Hormuz and be allowed unrestricted oil sales upon signing. This interim deal, reportedly matching leaked texts, is slated for formal signing in Geneva on Friday, initiating a 60-day negotiation period for a final agreement aimed at preventing Iran from developing nuclear weapons, under which the US would secure significant reconstruction funds for Iran and withdraw all sanctions. However, the immediate granting of oil waivers to Iran, even as talks commence, is seen as diminishing a key bargaining chip for the United States, as such sanctions previously severely limited Iranian oil exports.

US President Donald Trump has expressed contradictory sentiments regarding a Memorandum of Understanding with Iran, stating during the G7 summit that the agreement is not final and that he reserves the right to resume military action if dissatisfied, despite leaked documents suggesting Iran would immediately reopen the Strait of Hormuz and be allowed unrestricted oil sales upon signing. This interim deal, reportedly matching leaked texts, is slated for formal signing in Geneva on Friday, initiating a 60-day negotiation period for a final agreement aimed at preventing Iran from developing nuclear weapons, under which the US would secure significant reconstruction funds for Iran and withdraw all sanctions. However, the immediate granting of oil waivers to Iran, even as talks commence, is seen as diminishing a key bargaining chip for the United States, as such sanctions previously severely limited Iranian oil exports.

Donald Trump's contradicting statements and rhetoric are no longer shocking as the mercurial US president keeps changing his stances. In his latest speech, he said the Memorandum of Understanding on Iran was not final, threatening that he would resume the war if did not like it.

"It's not final, it's a memorandum of understanding. And if I don't like it, we'll go back to shooting at them, dropping bombs on their head. If I don't like it, if they don't behave, we'll go right back to dropping bombs right smack in the middle of their head, OK?" Trump said during the G7 summit in France.

The US president said the Iran MoU did not include immediate relief from sanctions, adding that he would talk about it later.

The leaked copies of the interim agreement published by Al Arabiya and Bloomberg purportedly show that Iran will immediately take steps to reopen the Strait of Hormuz once the deal is signed and will be allowed to sell its oil without restrictions. This leaked text reportedly matches the document broadly.

The peace deal is set to formally signed in Geneva, Switzerland, on Friday. After the deal is signed on Friday, the two sides will start negotiating over the next 60 days to reach the final agreement that the Trump administration insists will prevent Iran from ever developing a nuclear weapon.

As per the accord, the US would secure at least $300 billion to rebuild Iran after the war if a final agreement addressing Iran's nuclear programme is reached. All US and UN sanctions would also be withdrawn after final agreement.

The decision to grant Iran oil waivers immediately as the 60-day talks commence has effectively removed a key source of leverage for the United States. Historically, international sanctions significantly curtailed Iranian oil sales in the years leading up to the 2015 nuclear deal, with those restrictions only being eased once the agreement was reached.