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Or sign-in if you have an account.U.S. President Donald Trump arrives to speak during a visit to the Mack Trucks manufacturing facility in Macungie, Pennsylvania, on June 23, 2026. Photo by Mandel Ngan/AFP via Getty ImagesPresident Donald Trump said Iran will be able to use funds released from frozen accounts only to purchase food and medical supplies from the U.S., seeking to ease concerns about peace negotiations that both sides say are making progress.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. 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Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorYet Trump’s comments were quickly disputed by Iran, the latest instance where both sides are making conflicting claims over key issues in their discussions, with the status of inspections now a case of he said-he said.The back and forth on what was actually agreed to last week runs alongside growing domestic criticism of U.S. conduct in the war.Columnist Jesse Kline keeps you up to date with what’s happening in Israel and the effects of antisemitism on life here in Canada. Friday mornings.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Channel Israel will soon be in your inbox.We encountered an issue signing you up. Please try againThe Republican-led Senate voted Tuesday to end the U.S. war with Iran, in a rare symbolic rebuke of Trump. While the resolution is unlikely to force any changes in the administration’s strategy, it represents the latest sign that the president lacks domestic support for the effort.Meanwhile, Iran and Oman said they’ll begin work on finding an agreement over the future administration of the Strait of Hormuz, including the cost of managing transit in the key shipping lane.Oil prices fell lower on Tuesday, with Brent declining to US$76.88 a barrel. It’s down from a high of around US$125 in late April and now approaching pre-war levels.Trump said the billions of dollars of unlocked financing will go “into escrow, controlled by the U.S.A.” and will be used for the purchase of American-grown products such as corn, wheat and soybeans, Trump said in a social media post on Tuesday.He added that Iran had agreed to “highest level Nuclear inspections long into the future” in the parallel negotiation over Tehran’s atomic activities, a central part of the discussions to end the near four-month war and keep the critical Strait of Hormuz open.After Trump’s post, Iran’s Foreign Ministry spokesman Esmail Baghaei disputed both notions, saying the funds would be used by his country “freely, in whatever manner it deems appropriate,” rather than being restricted to purchases from the U.S.Baghaei also rejected Trump’s claims about nuclear inspections, saying “we have neither met with the director general of the International Atomic Energy Agency nor do we have any plans for the agency to inspect Iran’s nuclear facilities.”Trump repeated his insistence that Iran had agreed — as both sides continue to frame the negotiations in ways aimed at their domestic audiences.“They’re wrong,” Trump told reporters when asked about Baghaei’s comments. “They know they’re wrong. They told us inside and we have it down, 100% inspections — and if they were right, I’d cancel the meetings right now.”Trump’s comments underscore the U.S. president’s defensiveness over the deal as it draws criticism, including from defense hawks in his own party.His insistence that released funds would go to U.S. agricultural products could appeal to US farmers — a key political constituency for Trump and Republicans — who they will need to energize ahead of the November midterm elections, particularly in large swaths of the Midwest and South.Some critics of the memorandum of understanding signed last week fear the Islamic Republic instead will use the money to rebuild its armed forces and continue to support militant groups such as Hezbollah.Iran has insisted that US$12 billion of its frozen finances are set to be released as part of ongoing talks, in two equal instalments, according to a report by the Mehr news agency that cited Deputy Foreign Minister Kazem Gharibabadi. The U.S. is yet to confirm how much the Islamic Republic will get.Despite the back-and-forth, Trump said talks were “going well,” echoing broadly optimistic comments from the various parties involved.Plenty of other outstanding issues stand in the way of a firm deal, including over Israel’s conflict with Iran-backed Hezbollah in Lebanon. Israel’s ongoing military presence in the south of the country has been cited by Iran as a breach of the agreement, jeopardizing the talks. Iranian officials have said the U.S. is also responsible for Israeli violations of the ceasefire.A fifth round of U.S.-mediated talks between Israel and Lebanon is taking place in Washington Tuesday, according to the Israeli embassy in the city.Meanwhile, Secretary of State Marco Rubio flew to the United Arab Emirates as the U.S. seeks to reassure regional allies the interim agreement it signed last week is good for their security and economies.Rubio will also travel to Kuwait and Bahrain.The Strait of Hormuz is key to the discussions. Traffic through the vital waterway is increasing, pointing to growing confidence among shipowners and traders about sending vessels through as tensions ease.While many traders warn it will take months for oil and liquefied natural gas flows through the strait to return to normal, there are growing signs of abundant supplies in the near term, sending prices down.Iran said Tuesday the Strait of Hormuz is “fully” open to commercial shipping. Tehran’s ambassador in Geneva said and that large volumes of oil have transited the waterway in recent days, according to the semi-official Iranian Students’ News Agency.Exactly what “open” will look like remains unclear. Oman and Iran said they will begin talks on the future administration of the strait, including services to be provided and “costs associated with them in accordance with international standards,” according to a joint statement.In talks in Switzerland since Sunday, the U.S. and Iran have agreed to set up technical working groups to deal with issues such as unwinding sanctions on the Islamic Republic and curbing its enrichment of uranium. Vance and Iran’s lead negotiator, Parliament Speaker Mohammad Bagher Ghalibaf, left Switzerland on Monday, though lower-level delegates are continuing discussions this week. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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