The June memorandum signed by President Trump set a 60‑day deadline for ending the conflict with Iran and reaching a permanent nuclear agreement; the deadline expired on Monday with negotiations stalled. The deal called for a halt to military operations, the reopening of the Strait of Hormuz and the resolution of Iran’s nuclear dispute, but the two sides remain far apart. Talks have focused on reopening the waterway and lifting a U.S. blockade, neither of which has materialized, and detailed nuclear discussions have not begun.

Fighting escalated after Iran began targeting vessels near Oman, prompting a U.S. strike that Iran answered by attacking bases in Jordan, Kuwait and Bahrain. The United States subsequently revoked oil‑sale waivers and reimposed a port blockade, while Iran says it will control the strait through an arrangement with Oman and may impose fees. Both governments accuse the other of violating the June agreement, of which most provisions have collapsed.

Iran’s leadership demands the lifting of the blockade, the withdrawal of U.S. forces and reparations for war damage, and says it will retain control of the strait. President Trump rejects those demands, asserting U.S. control of the waterway and relying on sanctions and the blockade to pressure Tehran. Analysts note that a prolonged impasse could strain global oil supplies, raise fuel prices and fuel domestic unrest in Iran.

Pakistan, which helped broker the original deal, warned that the deadline has passed but said it continues to seek a negotiated settlement. The situation remains unresolved as the clock continues to tick for both parties.