Floor Remarks by Senator Chuck Grassley of Iowa
Senate President Pro Tempore
“The State of Iran Demands Accountability in U.S.-Iran Deal”
Monday, June 22, 2026
One [more] week in June, four in July, three in September – that’s the number of weeks the Senate is in session between now and the election.
A lot of people think a lot of things need to be done between now and the election, and I agree with that.
But those weeks I just named add up to about 21 days that the Senate’s going to be in session. [That’s] a lot of work to be done in 21 days.
I can think of what I’m interested in: E15 for the agricultural economy of Iowa.
Another senator spoke to me about the necessity of getting some control of college athletes in legislation that’s pending and doing that before the beginning of the college football season.
So, I hope my colleagues will think about [how] there’s not a whole lot of time left and use it very efficiently.
Last week, President Trump signed a deal to end the hostilities between the U.S. and Iran. That deal could be called a “Memorandum of Understanding,” as it is so named, or you could look at it as a letter of intent.
Let’s remember what Operation Epic Fury was all about: preventing the Iranian regime – which has chanted “Death to America” for 47 years – from having a nuclear weapon.
“Death to America” is death to Americans...
If you’ve had the secure briefings that I’ve had, you’d be very thoughtful about what can come from Tehran to affect Americans.
We’ve seen it. Two people were shot in Austin, Texas, by a person that had “Allah is great” on his sweatshirt.
We saw it, two bombs thrown in Brooklyn that didn’t go off that would have killed a lot of people.
So, with the peace agreement at hand, the devil is in the details.
While key details are set to be finalized within 60 days, Congress will and must keep a very close eye to ensure that Iran is held accountable every step of the way.
Accountability starts with facts.
Because we’ve heard these absurd claims from opponents of the Iranian war suggesting that Iran has never been better off. The facts don’t back that claim up.
Under President Trump’s direction, America’s military has put a massive dent in Iran’s nuclear program, military arsenals and its energy and transportation infrastructure.
What’s more, Iran’s economy is buckling with hyperinflation.
The U.S. naval blockade in the Strait of Hormuz cost Iran up to $500 million per day, and by early May, Iran lost $4.8 billion in oil revenue.
In May, inflation in Iran reached 77%, and the cost of basic goods in Iran has risen as much as 400% in a year.
The currency in Iran has also plummeted to historically low levels.
In late April, their currency hit a record low of 1.8 million to the dollar and remains historically at low levels.
Now, you put all of that together, and the picture is pretty clear: that is not a thriving nation. It’s a nation facing total collapse.
And that’s exactly why we need to pay attention as the U.S. and Iran continue these negotiations.
Because when a country is under this kind of pressure, it changes what it’s willing to do and raises the stakes for getting this agreement right, in the first place.
So, we shouldn’t take anything at face value.
We must verify. And we should judge this agreement by what Iran does, not what it promises.
Because in a situation like this, pressure alone doesn’t guarantee results.
Only accountability guarantees results...
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