Trump Dismisses Critics of Iran Deal as ‘Fools’ Amid Falling Oil Prices

United States President, Donald Trump, has dismissed critics of his agreement with Iran as “fools”, insisting the deal has already produced positive economic results as preparations continue for talks on its implementation in Switzerland.

Trump made the remarks on Thursday after formally signing the accord aimed at ending the Middle East conflict involving Iran, the United States and Israel.

The agreement, signed separately by Trump and Iranian President Masoud Pezeshkian, triggered a sharp decline in oil prices, while attention has shifted to the reopening of the Strait of Hormuz and negotiations over Iran’s nuclear programme.

The US leader signed the document on Wednesday during a dinner hosted by French President Emmanuel Macron at the Palace of Versailles near Paris. The signing came after uncertainty over when the agreement reached earlier in the week would be officially endorsed.

Macron welcomed the development, describing it as a major diplomatic achievement after hosting the G7 summit.

“These fools, who think I haven’t been tough enough on Iran, when the Stock Market Just Hit A RECORD HIGH, and Oil prices are ‘tumbling’ down, are either jealous, bad people, or stupid,” Trump posted on social media hours after signing the deal.

Iranian President Masoud Pezeshkian also signed the agreement, Iranian foreign ministry spokesman Esmaeil Baqaei said, adding that “now it is time to test the implementation of the agreement”.

Oil prices extended their downward trend on Thursday, with crude dropping by more than three per cent following reports of the agreement.

The accord is expected to help end hostilities between the United States, Israel and Iran after weeks of conflict that disrupted shipping activities in the Strait of Hormuz and pushed global energy prices higher.

Pakistan Prime Minister Shehbaz Sharif, whose country played a mediation role in securing the deal, said it “shall enter into force with immediate effect” and Iran “will instantly reopen the Strait of Hormuz”. He also signed the agreement.

The next phase of the process will involve a two-month period of negotiations focused on the reopening of the strategic waterway and efforts to reach a broader understanding on Iran’s nuclear activities.

Macron hailed the deal “which allows for peace, the reopening of the Strait of Hormuz without tolls, and 60 days to conclude an agreement on nuclear, ballistic, and regional activities”.

Questions, however, remain over how the implementation process will unfold. The agreement was initially expected to be signed on Friday at a mountain resort in Switzerland by Iran’s chief negotiator and parliament speaker, Mohammad Bagher Ghalibaf, and US Vice President JD Vance.

Baqaei later said an in-person signing ceremony was no longer necessary. Sharif, however, maintained that a formal event would still take place in Switzerland on Friday, after which technical discussions would begin.

Under the terms of the agreement, the United States has pledged to immediately remove oil sanctions that have weighed heavily on Iran’s economy.

The deal also provides that Washington will help facilitate a $300 billion reconstruction fund backed by regional countries once a final agreement is reached on Iran’s nuclear programme.

AFP