Overview
- The two sides signed a 14‑point memorandum on June 17 that paused fighting and set a 60‑day period for technical negotiations on reopening the Strait of Hormuz and other matters.
- A projectile struck a cargo ship on Thursday, prompting U.S. strikes on Iranian targets and then Iranian missile and drone attacks on U.S. sites in Kuwait and Bahrain, a sequence that threatened to break the interim deal.
- U.S. officials say both sides have agreed to 'stand down' and allow vessels to transit the strait freely while technical and high‑level talks are to continue in Doha, but Iranian spokespeople have publicly denied any scheduled bilateral meetings.
- Tehran expects the release of frozen assets held in Qatar, with Iranian leaders saying $6 billion of about $12 billion would be returned, yet sequencing, verification and access rules remain unresolved.
- The accord remains fragile because the IRGC and hardliners constrain Tehran, mediators still must agree mine‑clearing and passage coordination, and failure to implement terms could quickly push oil prices higher and endanger regional shipping and civilians.