Amid reports that a new ceasefire deal is imminent, the conservative Wall Street Journal editorial board warned President Donald Trump to avoid a deal that functions as an economic bailout for Iran.

Over the weekend, Trump claimed that the U.S. and Iran were close to reaching a deal for a 60-day ceasefire in the conflict that has ravaged the world economy and sent oil prices skyrocketing. Iranian officials confirmed that talks were progressing, but stressed that major sticking points were still holding it back, adding that a deal was nowhere near as close as the president suggested. Nevertheless, news of an impending reprieve sent oil prices tumbling slightly.

In response to these reports, the Wall Street Journal board — which is commonly viewed as a major conservative voice on economic and political issues — published a new piece, warning Trump that one aspect of the supposed plan would amount to an economic bailout for Iran, and would leave the U.S. with only the most extreme leverage to get a final deal made, calling the notion a major potential "strategic setback."

In particular, the board took issue with the proposed portion of the deal that would end the U.S. blockade of Iran's port and allow them to resume selling oil to foreign markets.

"The preliminary deal, as mooted in the press, is for both sides to end their blockades, and perhaps for the U.S. to sweeten the pot financially, while talks on nuclear issues and further sanctions relief continue for 60 days or more," the board wrote. "A U.S. official says, but Iranian officials deny, that the regime gave assurances a final deal would include 'disposal' of its enriched uranium."

The end of the blockade, they warned, would destroy a key piece of U.S. leverage over Iran before its nuclear program is properly dealt with. The only remaining leverage — threatening to renew the fighting — will ring hollow after his previous backtracks.

"The basic problem lies with ending U.S. pressure before dismantling the nuclear program," the board added. "If the blockade ends and Iran can sell its oil, all that’s left to coerce it into nuclear concessions is the threat of renewed war."

It continued: "But Trump wasn’t willing to do that after Iran reneged on reopening the Strait of Hormuz and attacked U.S. forces and Gulf allies. How credible will the threat be 60 days closer to midterms, when it would trigger a new Iranian blockade of Hormuz? A pledge not to build a nuclear weapon means nothing because the regime has always said that while doing the opposite... Iran’s regime went into this war facing domestic political and economic crises. War has made these worse. Saving such a regime now with an economic bailout would be the real betrayal—of the U.S. interest even more than the Iranian people.”

Reprinted with permisson from Alternet