U.S. and Iran Sign 60‑Day Ceasefire Protocol as Tehran Claims Control of Strait of Hormuz

Overview

• The United States and Iran signed a protocol last week that pauses hostilities and opens a 60‑day window for a final deal, with technical talks continuing in Switzerland and mediators from Pakistan and Qatar assisting.
• Commercial traffic has resumed and surged, with maritime tracker Kpler reporting a record number of raw‑materials crossings on Monday, June 22, and the IMO beginning an evacuation plan for roughly 11,000 mariners who had been stuck in the strait.
• Washington temporarily authorized transactions in Iranian hydrocarbons through August 21, a move that has eased oil markets but raised concerns among Gulf states about concessions to Tehran.
• Iranian negotiators, including Mohammad Bagher Ghalibaf, say the strait will be 'administered' by Iran and the IRGC has warned that only Iran’s announced transit corridor is authorized, a position the U.S. rejects as illegal for an international waterway.
• Public statements conflict over nuclear oversight: Iranian officials say they will not permit IAEA inspections of sites damaged during the war while U.S. leaders have said Iran accepted renewed inspections, leaving verification a key unresolved hurdle.