The US and Iran are due to formalize a new truce on June 19, with the agreement expected to open the Strait of Hormuz to tankers. Donald Trump showed an unexpected love of peace and, of all the options for an intermediate resolution to the conflict, chose the diplomatic one. The US will have to give Iran tens of billions of dollars in frozen assets (and possibly pay on top from the country's new reconstruction fund). Tehran only made a vague promise to discuss the future of its nuclear program within the next 60 days. Such an end to the war (if it happens) can be regarded as a defeat for the United States. The country did not achieve political goals, did not gain leverage over Iran, lost the trust of allies in the Middle East - and also paid for it. But for Trump personally, the outcome looks acceptable: he clearly did not want to get involved in a more intense and risky war ahead of the November congressional elections and has so far avoided it.