Trump's Iran War End?
Was it Worth the Cost?
On February 28, 2026, the United States and Israel launched coordinated joint airstrikes, codenamed Operation Epic Fury, targeting Iranian military sites, government infrastructure, and leadership. These actions did not have formal congressional authorization or a declaration of war. In that context, Presidents often bypass Congress by citing their constitutional duties as Commander-in-Chief. However, Congress has fiercely debated and challenged this authority. The exclusive power to declare war rests with Congress under Article I of the Constitution. You can track the real-time legislative status of these resolutions via the Congress.gov S.J.Res.68 Text or view ongoing AP News House Resolution Coverage. [1]
The agreement between Iran and the US lays out the terms of the ceasefire between the bitter rivals, the reopening of the Strait of Hormuz, some financial relief for Iran and a reiteration from Tehran that it will never produce a nuclear weapon, according to a draft copy of the text obtained by CNN.
The 14-point memorandum of understanding has not yet been officially released but a copy of it was obtained by CNN and verified by multiple sources. The exact verbage may change as the final draft is due to be signed in Switzerland on Friday, June 19, 2026.This would include a 60 day-window to negotiate the final terms of a deal. Technical details also may shift, however this is a preliminary view of the cost of Trump’s war.
Under the draft agreement, the US will allow Iran to sell its oil and petrochemical products, and Tehran may be able to tap into a $300 billion development fund if it meets commitments related to its nuclear program in further negotiations. The document does not include specifics on what will become of Iran’s highly enriched uranium.
A US official told CNN that the text reflects the agreement signed digitally by President Donald Trump, Vice President JD Vance and Iranian parliamentary speaker Mohammad Bagher Ghalibaf on Sunday. The semi-official Iranian news agency Tasnim described leaked versions of the draft as inaccurate. Bloomberg earlier published a version of the draft.
The following is the news published draft to date”
1 — The Islamic Republic of Iran and the United States, together with their allies in the current war, declare upon the signing of this Memorandum of Understanding an immediate and permanent end to the war on all fronts, including Lebanon, and undertake that from now on they will not launch any hostile action against each other, and will refrain from the threat or use of force against each other. The final agreement will confirm the provisions of this Article and the remaining Articles.
2 — The Islamic Republic of Iran and the United States undertake to respect each other’s sovereignty and territorial integrity, and to refrain from interfering in each other’s internal affairs.
3 — The Islamic Republic of Iran and the United States undertake to negotiate and reach a final agreement within a maximum period of 60 days, extendable by mutual consent.
4 — Immediately upon the signing of this Memorandum of Understanding, the United States lift the naval blockade and prevent any interference or obstruction against the Islamic Republic of Iran, and restore traffic within a maximum of 30 days to its full capacity; the traffic of ships shall be proportional to the pre-war volume of traffic on the part of the Islamic Republic of Iran. The United States also undertakes to withdraw its forces from the surrounding areas within 30 days after the final agreement.
5 — Upon signing this Memorandum of Understanding, the Islamic Republic of Iran will immediately take steps to ensure that the movement of merchant ships from the Persian Gulf to the Sea of Oman and vice versa is resumed within 30 days to the pre-war volume, taking into account the need for the removal of technical obstacles and the neutralization of mines by Iran.
6 — The United States undertakes, together with its regional partners, to create a comprehensive plan agreed upon by both parties for the rehabilitation and economic development of the Islamic Republic of Iran, while ensuring financing of at least $300 billion. The implementation mechanism of this plan, as part of the final agreement, will be formulated within 60 days.
7 — The United States commits to ending, on a schedule to be agreed upon as part of the final agreement, all types of sanctions currently facing the Islamic Republic of Iran, including resolutions of the United Nations Security Council and the Board of Governors of the International Atomic Energy Agency (IAEA), and all unilateral U.S. sanctions, both primary and secondary.
8 — The Islamic Republic of Iran reiterates that it will never produce nuclear weapons. The Islamic Republic of Iran and the United States have agreed that the fate of enriched material and the fate of all other mutually agreed nuclear-related issues, including Iran’s nuclear needs, will be adequately addressed in a final agreement; the final agreement will confirm the provisions of this Article.
9 — The Islamic Republic of Iran and the United States agree that, pending a final agreement, they will maintain the status quo: Iran will maintain the status quo on its nuclear program, and the United States will not impose new sanctions on Iran or strengthen its forces in the region.
10 — The United States undertakes that immediately after the signing of this Memorandum of Understanding, and until the date of the lifting of sanctions, the United States Treasury Department will issue waivers for exports of Iranian crude oil, petrochemical products and their derivatives, and all related services, including banking, insurance, transportation, and the like.
11 — The United States undertakes that, in light of the progress of negotiations towards a final agreement, frozen or restricted funds and assets of the Islamic Republic of Iran will be released and made fully available. These funds, whether held in the master account or transferred, will be used for any final beneficiary payment determined by the Central Bank of the Islamic Republic of Iran and will be fully available for use. The United States undertakes to issue all necessary permits and licenses on this basis.
12 — The Islamic Republic of Iran and the United States agree that an implementation mechanism will be established to oversee the successful implementation of and future commitment to the Final Agreement.
13 — Following the signing of this Memorandum of Understanding, and upon receipt of assurances regarding the commencement of implementation of Articles 4, 5, 10, and 11 of this Memorandum of Understanding, and the continued implementation of these steps, the Islamic Republic of Iran and the United States will enter into negotiations for a Final Agreement solely with respect to the remaining Articles.
14 — The final agreement will be approved through a binding resolution of the UN Security Council.
This is a fluid story.
Since February 28th, Trump’s war with Iran, has included at least 15 military personnel killed, more than 500 injured, and 42 military aircraft (fighter jets, bombers, and drones) lost or damaged. The conflict also depleted munitions stockpiles and caused significant damage to multiple U.S. military sites across the Middle East. [1, 2, 3]
The breakdown of reported U.S. losses includes:
Human Casualties: At least 15 American service members killed and over 500 injured. [1]
Aircraft and Drones: A Congressional report tallies 42 U.S. military aircraft lost or damaged, costing an estimated $2.6 billion. The destroyed and damaged craft include:
Drones: 24 MQ-9 Reapers and 1 MQ-4C Triton
Refuelers/Support: 7 KC-135 Stratotankers, 2 MC-130J special ops aircraft, and 1 E-3 AWACS
Fighters/Attack: 4 F-15E Strike Eagles, 1 F-35A Lightning II, and 1 A-10 Thunderbolt
Helicopters: 1 HH-60W combat search-and-rescue helicopter [1, 2, 3, 4]
Military Sites & Munitions: At least 16 U.S. military sites in the Middle East sustained damage. American forces also rapidly depleted their stocks of air defense and long-range interceptors. [1, 2]
You can find the full nonpartisan breakdown of equipment losses and their broader budgetary impacts in the Congressional Research Service review on Military Times.