Iran says 60-day peace deal window expired with ‘absolutely no progress’ as US rejects extension

The 60-day negotiation window between the US and Iran, brokered by Pakistan in mid-June, has expired with what Iranian officials describe as “absolutely no progress” toward a comprehensive peace agreement. Washington has rejected Tehran’s push for an extension, leaving the interim framework effectively dead and both sides trading blame for the collapse. The memorandum of understanding, signed around June 17, was supposed to be a structured runway toward resolving some of the most intractable issues between the two countries: the reopening of the Strait of Hormuz, the release of approximately $24 billion in frozen Iranian assets, and the perennial question of Iran’s nuclear program. What the deal was supposed to accomplish The framework addressed three core issues. First, the US naval blockade of Iran, which had been choking the country’s ability to export oil. Second, Iranian actions in the Strait of Hormuz, a waterway through which roughly a fifth of the world’s oil supply passes daily. Third, sanctions relief tied to the release of around $24 billion in frozen assets, a sum that had become both an economic lifeline for Tehran and a bargaining chip for Washington. Iranian official...