Morning Briefing: Monday 25 May 2026
- President Donald Trump tempered Saturday’s “largely negotiated” framing on Sunday, posting on Truth Social that he had told US representatives “not to rush into a deal” with Iran. “Time is on our side. The Blockade will remain in full force and effect until an agreement is reached, certified, and signed.” A senior Trump administration official told reporters yesterday an agreement would not be signed Sunday, that Iran had agreed “in principle” to open the Strait of Hormuz in exchange for the US lifting its naval blockade, and to dispose of Tehran’s highly enriched uranium — though there was no immediate Iranian confirmation of what “in principle” means.
- The proposed framework now sequences first: reopen the Strait of Hormuz and lift the US naval blockade. Sanctions relief and the release of Iran’s frozen funds happen only after the strait reopens and is fully functioning, US officials said. A 60-day window follows for nuclear-programme negotiations, including Iran’s pledged commitment to never pursue a nuclear weapon and to enter negotiations on giving up its highly enriched uranium stockpile while pausing new enrichment. Brent settled at $102.30 at Friday’s close; London opens this morning with the “reached, certified, and signed” framing as the dominant variable for European energy and gilt pricing.
- Senior Starmer ally Darren Jones, Chief Secretary to the Treasury, warned Labour against “fantasy politics” on the BBC’s Sunday with Laura Kuenssberg yesterday: there is no “magic answer” to the country’s problems and “Britain is poorer and weaker than it needs to be”. Former Home Secretary Alan Johnson said Labour MPs would be “daft” to back an Andy Burnham leadership bid and that Burnham would have to call a snap general election if he became Prime Minister; Johnson said there is “absolutely no case for Keir Starmer to step down”. The Makerfield by-election is 18 June.
Trump — “No Rush”, “Time On Our Side”; Blockade Stays Until Signed
President Donald Trump posted on Truth Social on Sunday: “I have informed my representatives not to rush into a deal in that time is on our side.” He added: “The Blockade will remain in full force and effect until an agreement is reached,…
Senior US Official — Iran Agreed “In Principle”; Hormuz First, Uranium Later
A senior Trump administration official told reporters on Sunday an agreement with Iran would not be signed yesterday because the Iranian system “did not move fast enough”. The official, speaking on the condition of anonymity, said Iran had…
Sanctions Relief, Frozen-Funds Release Only After Hormuz Fully Functions
The unfreezing of Iranian assets will occur only once the Strait of Hormuz has reopened, a senior US administration official said yesterday. Sanctions imposed on Iran will only be lifted once the strait is open and fully functioning again.…
Five Unresolved Issues; Iran Rejects Efforts to Defer Core Demands
IRGC-affiliated reporting has identified frozen assets, sanctions relief, the US naval blockade, Lebanon, and the Strait of Hormuz as the main unresolved issues — every issue in the first stage of the proposed agreement, before talks on th…
Iran “Stalling” to Normalise Hormuz Control; “Deal or Force” the Binary
Iran is likely stalling and delaying the negotiations process precisely because the protraction of the current situation serves Iran’s interests by normalising its de facto control of transit through the Strait of Hormuz. One of Iran’s pri…
Jones — Warns Labour Against “Fantasy Politics”; “No Magic Answer”
Senior Starmer ally Darren Jones, Chief Secretary to the Treasury, warned Labour against playing “fantasy politics” on the BBC’s Sunday with Laura Kuenssberg yesterday. With Andy Burnham and Wes Streeting both positioning themselves to rep…
Alan Johnson — Labour MPs “Daft” to Back Burnham; Snap-Election Warning
Former Home Secretary Alan Johnson said yesterday that Labour MPs would be “daft” if they backed a leadership bid by Andy Burnham. Johnson said: “Absolutely no case for Keir Starmer to step down.” Asked whether Burnham should be Prime Mini…
Streeting Platform — Wealth Tax + Sure Start + Planning Reforms for Council Homes
Wes Streeting has set out a policy platform including a wealth tax to fund a return of the New Labour-era Sure Start programme, and planning reforms to fund council homes to prevent children growing up in temporary accommodation. Streeting…
Al Carns — Selly Oak Armed Forces Minister Emerges as Dark Horse
Al Carns, the Labour MP for Birmingham Selly Oak and minister for the armed forces, is being talked up in some Labour circles as a dark horse leadership contender. Carns was first elected in 2024 with a majority of 11,537 and was swiftly p…