Mike Baker

At this stage, there are far more questions than answers.

And perhaps someone could explain the logic in providing the existing Iranian regime and the IRGC with upwards of $300 billion to rebuild and develop, after decades of watching the same regime divert billions of dollars to their nuclear and missile programs.

Then there's the issue that helped trigger this conflict in the first place, Iran's nuclear program.

Perhaps the most important takeaway from the leaked drafts is what they don't appear to do.

None of the versions currently circulating seem to permanently resolve the nuclear question.

Instead, Iran would reportedly reaffirm that it does not intend to develop nuclear weapons while both sides enter a new round of negotiations focused on uranium enrichment, stockpiles of enriched material, and the future of Iran's nuclear infrastructure.

Is it wrong of me to point out that the Iranian regime has already spent decades claiming they have no intention of developing nuclear weapons, while at the same time spinning centrifuges to create a stockpile of near-weapons-grade purity uranium?

So, in other words, the central dispute at the heart of this crisis may not have been settled at all.

Key nuclear issues may simply be a bullet point in any memorandum to be dealt with at a future time.

And looking at all of that, I guess you could cap this up by saying, here's where we are.

An agreement has been reached, according to the White House and Pakistani mediators.

Perhaps within the next day or so, we'll get confirmation from the regime that they have actually agreed.

If so, well, it all comes down to what is actually in this agreement or memorandum of understanding, and more importantly, the immediate actions of the Iranians, not their words.

It's one thing for the president to announce that the Strait is now open to commercial shipping.

It's entirely another for the Iranian regime to relinquish their control over the waterway and demonstrate by their actions that the Strait is, in fact, open.

And then there's the matter of what concessions for the regime may exist in the reported memorandum or agreement.

If the U.S.

provides the regime with sanctions waivers, unfreezes assets, and otherwise provides economic relief, simply in exchange for pre-conflict Strait of Hormuz shipping levels and a promise to talk about the nuclear program at a later date, well, that's going to be tough for the White House to spin as a victory.

All right, coming up next, Britain moves against Russia's shadow fleet as President Trump announces the killing of the leader of Venezuela's notorious Trenderagua gang.

I'll be right back.