US President Donald Trump on Wednesday said that the memorandum of understanding digitally signed this week with Iran is “not final,” warning that Washington would resume military strikes against Iran if “they don’t behave” and adding that a deal to reopen the Strait of Hormuz was unavoidable.
Referring to the preliminary agreement with Tehran expected to be physically signed in Switzerland on Friday, Trump reiterated that “it’s not final – it’s a memorandum of understanding,” and that Washington’s military threat remains in place.
“It’s a memorandum of understanding. 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, okay? Because they’ve misbehaved for 47 years,” he warned, speaking alongside Egyptian President Abdel-Fattah el-Sissi at the G7 summit in France.
The agreement is “a great deal for a lot of reasons,” he said, “but number one by far — 99.9 percent of it — is that they will never have a nuclear weapon.”
“It’s a very strong deal. Nobody knows what it is, but it’s very strong, and most people seem to be very happy,” he added, without specifying which people he was referring to.
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“The Strait [of Hormuz] is going to be opening. It’s already partially opened. It’s going to be opening up soon in full over the next day or two,” Trump said.
Tankers and cargo vessels are seen in the Gulf of Oman, along shipping routes linking the Strait of Hormuz and the Arabian Sea, June 16, 2026. (AP Photo)
Despite Washington’s blockade of Iranian ports and earlier threats to use force to reopen the vital shipping lane, Trump suggested a negotiated arrangement on Hormuz was unavoidable: “The alternative would be a worldwide depression.”
“You know, the stupid people want to have a worldwide depression, and they’re stupid people. So you can only go so far,” he said. “You drive somebody into the ground, and a lot of bad things happen… the Strait would never open, because they don’t like floating billion-dollar ships up and down a strait when there are rockets flying over them and mines all over the place… It wouldn’t be open for a long time.”
Trump also denied recent reports that a final deal with Iran would include a $300 billion fund for investment and reconstruction in the country.
“That’s false,” Trump said in response to a reporter’s request to confirm the reports. The reporter noted that the fund would reportedly be funded by Gulf allies, though the Financial Times reported that it would be created for companies eager to invest in the country and not for governments.
“People can invest if they want. I mean, what am I going to do — say nobody’s ever allowed to invest? We’re not investing. We’re not putting up ten cents. People can decide to do that, but that’s up to them… We do not have a fund,” Trump continued.
When asked by the reporter to clarify if he is asking Gulf countries to fund such an initiative, Trump replied, “No, I’m not,” adding that such support would likely not come soon and would depend on Iran’s behavior.
US President Donald Trump meets with Egypt’s President Abdel Fattah al-Sisi (not seen) on the sidelines of the G7 summit, in Evian-les-Bains, France, June 17, 2026. (Julia Demaree Nikhinson/AP)
“If they do it, fine, but I would say they won’t be doing it for a while until they find out the behavior [of Iran]. It’s a behavior thing,” he said.
He added that he will discuss the Iran deal more at a press conference at 4 p.m. local French time (5 p.m. Israel time).
MOU leaks say Iran can sell oil immediately
While the text of the MOU between the US and Iran has not yet been published, leaked copies of the deal suggested that Iran will immediately take steps to reopen the Strait of Hormuz and will be allowed to sell its oil without restrictions.
While the leak was not verified, officials said it broadly matches the document that the two sides agreed on earlier in the week.
The US agreement to immediately allow Iran to sell its oil freely and the offer to eventually lift all sanctions represent major concessions that outstrip the terms of Iran’s 2015 nuclear deal with world powers, which Trump unilaterally withdrew America from in his first term, declaring it the “worst deal ever.” This new accord likely will draw intense criticism in Washington — and appears to be a major setback for Israeli Prime Minister Benjamin Netanyahu, who launched the war along with Trump on February 28.
The deal also calls for an immediate end to all fighting in Lebanon between Israel and the Iranian-backed militia Hezbollah. That is one of the most delicate parts of the agreement because Israel has maintained it will continue to defend itself against the terror group — which has been raining missile fire on northern Israel since the war against Iran started — including by occupying swaths of southern Lebanon. Iran has sa…
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