Iran latest: Republican senators skeptical as peace deal details emerge

The Trump administration released some of the contents of the proposed peace agreement with Iran, potentially including a waiver on Iranian oil exports, a framework for a $300 billion reconstruction and economic development package and a 60-day negotiation period to get a final agreement on Iran's nuclear program. 

RELATED: Here are the terms of the agreement to end the war with Iran

On Tuesday, the Senate voted again to pass a war powers resolution that would rein in the Trump administration’s prosecution of the conflict despite the fact a peace deal is expected to be signed in just a few days. The measure narrowly failed, but senators from both sides of the aisle have expressed frustration over the White House not sharing details about the agreement.

A U.S. official told The Associated Press on the condition of anonymity that the agreement does not call for Israel to withdraw, and Israeli Prime Minister Benjamin Netanyahu previously said that the country’s forces would remain "as long as necessary."

Here’s the latest: 

"Reagan would be rolling over in his grave"

Outgoing Republican Sen. Bill Cassidy did not hold back in his criticism of the Trump administration’s handling of the Iran war and the subsequent peace agreement, declaring that "Reagan would be rolling over in his grave."

Cassidy, who was defeated in the GOP primary after Trump endorsed his opponent, argued that the war taught Iranian leaders that threatening to block traffic through the Strait of Hormuz is an effective tactic. He also argued the proposed peace deal will give them funds to rebuild with brand-new infrastructure.

"Before the war, the strait was open, Iran was being crushed by sanctions, and 13 service members were still alive," Cassidy said. "Now, 13 Americans are dead, families have paid billions at the pump, sanctions will be lifted, and the bombing has stopped."

Cassidy was not the only high-profile Republican to take aim at the agreement. Sen. Ted Cruz did not direct his concerns at the president, choosing to cast blame on those around him.

"Giving billions of dollars to theocratic lunatics who want to murder us is not a good idea," Cruz told reporters. "I think the president, unfortunately, is receiving bad advice."

The Texas senator also expressed worries about the possibility of commercial shipping being forced to pay tolls to pass through the strait in the future. He noted that the draft deal stops Iran from charging tolls for 60 days, but does not prevent tolls after that.

Thune describes MOU as a framework

Senate Majority Leader John Thune said he suspects more information will be released on the peace agreement between the U.S. and Iran and that what was released will not be the final product.

"I don’t think probably what you’re seeing right now represents what a final deal will look like," he said. "I think that sounds like it’s still going to be negotiated."

Congress has not been briefed on the agreement, but the Republican leader indicated his fellow senators have "a bunch of things" to ask about.

US officials read memorandum of understanding to journalist

1:45 p.m. ET: A senior U.S. official released some of the terms of the memorandum of understanding the U.S. has with Iran. 

The official said the draft included a new ‘minimum’ standard for the dilution of highly enriched uranium in addition to provisions to ensure ‘territorial integrity’ of Lebanon. 

The official, who spoke on the condition of anonymity, read the terms on a call with reporters that said the U.S. will waive some wide-ranging sanctions against Iran, but not eliminate them. 

It also has just a 60-day toll-free passage on the Strait of Hormuz, but does not preclude future fees, according to the official. 

What they're saying:

During a call with reporters, senior U.S. officials read portions of the agreement and defended controversial provisions that would allow Iranian crude oil exports to resume immediately while broader negotiations continue.

"The U.S. Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products and derivatives and all associated services including banking transactions, insurances, transportation, etc," the agreement states, according to officials. They declined to provide the written text of the agreement. 

Trump: Iran could face ‘ultimate consequences’ if they obtain a nuclear weapon

6:45 a.m. ET: Speaking at the G7 Summit, President Trump issued a bold warning if Iran were to acquire a nuclear weapon. 

"And if they do, they suffer unbelievable consequences," Trump said. "Not just a little bit — I won’t even tell you the consequences, but the consequences are the ultimate consequences."

"They will not develop, purchase, buy or any other thing," he went on to say. "They’re not going to acquire a nuclear weapon. If they do, all hell will rain down on them."