The White House has officially closed the door on reviving its June memorandum of understanding with Iran, citing Iranian violations as justification for demanding an entirely new framework with tougher conditions. The June MOU called for the cessation of military operations, the reopening of the Strait of Hormuz for commercial shipping without tolls for 60 days, the lifting of some US sanctions on Iranian oil exports, and a 300-billion-dollar reconstruction funding initiative. The agreement collapsed barely three weeks after it was signed, on July 8, when Trump declared it « over. » The 60-day negotiation window expired around August 17 without producing a final agreement, leaving the reconstruction funding in limbo.
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