The Iran Peace Deal Expires
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TL;DR
- The U.S.-Israeli war against Iran has stalled into a standoff over the Strait of Hormuz.
- Six months after the death of Iranian supreme leader Ali Khamenei, fighting has become less open combat and more pressure/probes.
- A 60-day memorandum of understanding expired without a follow-on deal.
- Attention has shifted to the Strait of Hormuz, with a U.S. naval blockade, tanker attacks, and Iranian military capacity rebuilding impacting oil markets.