- The United States and Iran are close to signing a memorandum to end their war, with an initial deal expected in the coming days.
- The deal would reopen the Strait of Hormuz, ease the U.S. naval blockade and free frozen Iranian assets — a move that pushed oil prices down.
- Iran is portraying itself as the “winner” and keeping leverage over the strait, while Israel wasn’t part of the talks, leaving regional tensions unresolved.
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