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Iran bags the lot

Trump joins the list of infamous losers to sign a treaty at Versailles, despite the reopening of the Strait fertiliser flows will likely be
Published: 18 June 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
and
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Asia EditionVolume: 3Issue: 114
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Trump joins the list of infamous losers to sign a treaty at Versailles, despite the reopening of the Strait fertiliser flows will likely be slow to rebound and Chinese demand is tanking.

The ink is finally dry. Trump signed the MoU at Versailles much like another one of history’s infamous losers. The humiliation of losing. Cue the Iranian victory laps. Chief negotiator Ghalibaf reckons Iran won more at the table than it ever could have on the battlefield and, remarkably, Trump seems to agree. He conceded that a few more weeks of bombing would never have prised the Strait open or delivered anything you could call success. He even let slip that the US was about four weeks from running its reserves dry, before catching himself and admitting he probably shouldn't have said that…we could say the same for most of what he says. He also admitted the US was running out of bombs.

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