Monday Afternoon News Updates: Trump Caves to Iran While Draining a Stinking Swamp of His Own Making — 6/22/26

Catch up on today's top stories

U.S. Vice President JD Vance looks on next to U.S. President Donald Trump‘s son-in-law Jared Kushner, as Iran’s Foreign Minister Abbas Araqchi shakes hands with Pakistan’s Prime Minister Shehbaz Sharif, before the start of a quadrilateral meeting between the U.S., Iran, Pakistan, and Qatar at the Lake Lucerne Summit, aimed at advancing a deal to end the Middle East conflict, at Buergenstock Resort Lake Lucerne, near Stansstad, Switzerland, June 21, 2026. REUTERS/Nathan Howard/Pool TPX IMAGES OF THE DAY

Hi all, Ben here. It’s Monday, and there is a lot to get through, so let’s jump right in.

Today’s top stories we’re tracking:

• Treasury issues a 60-day sanctions waiver allowing Iran to sell oil globally, including to the U.S., in dollars

• The Lake Lucerne Summit in Switzerland concludes with a joint statement despite a day of chaos and threats

• Israel says it isn’t going anywhere in Lebanon, with Netanyahu and Ben-Gvir doubling down

• Tankers are already moving Iranian oil through the Strait of Hormuz in massive volumes

• The Lincoln Memorial Reflecting Pool drama escalates, complete with a foul smell and Trump blaming “vandals” for his failure

• UK Prime Minister Keir Starmer resigns, with Andy Burnham positioning to replace him

• Rubio skips the real negotiations in Switzerland for a Gulf trip instead

• Bank of America now expects three Fed rate hikes this year as inflation worsens

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Now let’s get into it.

Trump Talks Tough, Then Folds on Iran Sanctions

Donald Trump spent yesterday threatening to kill Iranian negotiators. He nearly blew up the talks with his rhetoric, before cooler heads prevailed on the ground. Then, this morning, his administration issued a full general license and sanctions waiver letting Iran sell its oil, petrochemicals, and other natural resources to the rest of the world, using U.S. dollars to do it.

Here’s what actually happened, and I will show you the actual document released by the Treasury Department to show you the extent of Trump’s capitulation in the administration’s own words. It is truly mind-blowing to read this official government document for yourself.