Energy & Environment
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Energy & Environment
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MOU opens Hormuz, lifts sanctions on Iran's oil |
Key details on the 60-day ceasefire agreement between the U.S. and Iran were unveiled Wednesday.
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Vice President Vance is expected to formally sign the memorandum of understanding on Friday.
Under the MOU, Iran will make arrangements to allow commercial ships to safely traverse the Strait of Hormuz for 60 days. Iran also agreed to speak with Oman about the future of the Strait.
Upon signing, the U.S. will immediately lift sanctions on Iranian oil and oil-based products.
President Trump, meanwhile, said Wednesday that the agreement might not be permanent.
"If they don’t honor the agreement, or some things aren’t even mentioned in the agreement, it’s a memorandum of understanding, but we have an understanding of certain things without writing it,” he said.
“If they don’t honor that, we’ll probably go back to bombing them until they honor it,” he continued, adding “it’s amazing what bombs can do.”
Read more about the agreement at TheHill.com.
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Welcome to The Hill’s Energy & Environment newsletter, I’m Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
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How policy will affect the energy and environment sectors now and in the future:
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President Trump defended a memorandum of understanding (MOU) released Wednesday that ends the war with Iran, even as he suggested it may not be “permanent” during a press conference from the Group of Seven (G7) summit in Évian-les-Bains, France.
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The Trump administration is paying yet another company to give up the right to build wind energy offshore, saying the firm will invest in gas plants and geothermal energy instead.
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During his Wednesday confirmation hearing, Federal Emergency Management Agency (FEMA) administrator nominee Cameron Hamilton sought to toe the line between restoring order after a turbulent year at the agency and President Trump’s desire to scale down federal disaster aid.
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(NEXSTAR) – President Trump’s vision was to paint the Lincoln Memorial Reflecting Pool a darker shade of “American flag blue” to celebrate the country’s 250th birthday. But this week, it’s been looking more green.
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News we’ve flagged from other outlets touching on energy issues, the environment and other topics:
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Two key stories on The Hill right now:
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President Trump settled a $100 million lawsuit against his niece, Mary Trump, whom he accused of engaging “in an insidious plot” with The New York Times to leak confidential information for its Pulitzer Prize-winning 2018 investigation into his tax and financial records. Read more
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Former Social Security Administration Commissioner Martin O’Malley argued that requiring higher-income Americans to pay more into Social Security is the solution to the program’s looming funding shortfall after a new report warned that beneficiaries could see a 22 percent cut in their monthly checks by the end of 2032. Read more
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