The 60-day negotiation window between the US and Iran, brokered by Pakistan in mid-June, has expired without progress toward a comprehensive peace agreement. Tehran accuses Washington of violating the MOU terms early in the process, while the US points to Iranian inflexigence as the main obstacle. The memorandum addressed the reopening of the Strait of Hormuz, the release of approximately $24 billion in frozen Iranian assets, and Iran’s nuclear program. Washington rejected Tehran’s extension request, leaving the interim framework void with both sides trading blame. The Strait of Hormuz, through which roughly a fifth of the world’s oil supply passes daily, remains a major source of regional tensions and energy market uncertainty.
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