DATA & FIGURES
The US-Iran ceasefire agreement has seen 12.5 million barrels of oil flow through the Strait of Hormuz since its signing, which is the highest volume since the war started. However, this is still compared to some 20 million barrels before February 28. The deal also includes a US$300 billion reconstruction fund.
THE SCENARIO
The US-Iran agreement comes at a time of great geopolitical tension in the region. The war between the US and Iran has had far-reaching consequences, including soaring gas prices and inflation.
DIRECT QUOTE
"We have all the cards. Have a little bit of faith in the president of the United States. The idea that he is going to strike a deal that’s been bad for the American people, it’s preposterous." — J.D. Vance, Vice-President, United States
BBN INSIGHT
The US-Iran agreement is a significant development in the region, and its implications will be far-reaching. While the deal has been criticized by some, it is seen as a positive step forward by others.