Todd Blanche rescinds ‘anti-weaponization fund’. And, Trump calls off striking Iran
Acting US Attorney General Todd Blanche has rescinded a proposed $1.8 billion "anti-weaponization fund" that would have compensated people who claimed they were unfairly targeted by the federal government. The move came amid opposition from Republican senators John Cornyn and Thom Tillis, whose backing is important as Blanche's confirmation process resumes in the Senate. Separately, President Trump announced over the weekend that planned US strikes on Iranian energy infrastructure had been called off, saying the "perimeters of a deal" had been reached, a claim that echoes previous announcements of imminent diplomatic breakthroughs that have not materialised.
The anti-weaponization fund stemmed from a settlement tied to Trump's lawsuit against the IRS over leaked tax returns, though questions remain over provisions shielding Trump and his family from future IRS audits. On Iran, Trump said talks would begin immediately, though Tehran has not confirmed this, and oil prices fell sharply on the news, with Brent crude dropping around 8% to roughly $83 a barrel. Elsewhere, Capital One told a court that its 2021 closure of some 385 accounts linked to the Trump Organization was due to routine anti-money-laundering procedures, not political retaliation as alleged, and the bank is seeking dismissal of the related lawsuit.
- Blanche scraps $1.8bn fund amid GOP senators' opposition ahead of confirmation
- Trump says Iran strikes are off, citing progress on a diplomatic deal
- Capital One says 2021 closure of Trump-linked accounts followed standard procedures
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Todd Blanche is the Acting US Attorney General, and he has scrapped plans for a $1.8 billion fund that would have paid out people who said they had been unfairly targeted by federal agencies. The idea grew out of a settlement linked to a lawsuit Trump brought against the IRS over leaked tax records. Two Republican senators, John Cornyn and Thom Tillis, had objected to the fund, and their support matters because Blanche still needs Senate confirmation for his role.
Separately, Trump said over the weekend that planned US strikes on Iran's energy infrastructure would not go ahead, describing the "perimeters of a deal" as having been reached. He has made similar claims of breakthroughs in the past that did not lead anywhere, and Iran has not confirmed his account. The announcement affected financial markets, with oil prices dropping sharply.
Both stories touch on Trump's overlapping roles as president and as a figure with personal legal and business interests, including an ongoing separate case involving Capital One's closure of accounts linked to the Trump Organization.