Trump Panics in Oval after $12 Billion Transfer

Donald Trump held a press conference in the Oval Office that was so disjointed and ill-informed that the hosts of the MeidasTouch Podcast described it as "deranged." The central problem: Trump appeared not to realize that his own administration had just lifted all oil and petrochemical sanctions against Iran and unfrozen approximately $12 billion in assets. When asked about it, he fumbled, claiming the money would come back to the U.S. in the form of food purchases from American farmers, and then seemed to have no idea what the sanctions relief actually entailed.

The episode traces how this concession came about. According to Iran's lead negotiator, MB Golab, Trump posted attacks against the Iranian negotiating team the morning before talks. Iran walked out. The U.S. team, including JD Vance, begged them to return. Iran refused, instead speaking with Qatari and Pakistani mediators. Over an 80-minute period, they extracted the concessions now visible: the lifting of oil and petrochemical sanctions and the unfreezing of $12 billion. The first $6 billion has already been released. The U.S. Treasury issued a general license waiving key Iranian oil sanctions until August 21st. Golab is now in Muscat, Oman, discussing control of the Strait of Hormuz and toll charges.

Trump's Oval Office Performance