day one-hundred six (13. 516)

After several tense hours when an IDF strike of the suburbs of Beirut looked to sabotage the entire negotiations—one Trump said shouldn’t have happened, “Let’s not blow it—Iran and the US reached a tentative peace settlement and approved the memorandum of understanding, to reopen the Strait of Hormuz and end the American blockade of Iranian ports. Some twelve billion dollars of frozen Iranian assets will be released, with Europeans insisting that sanction relief must be conditioned on de-nuclearisation. The MOU is scheduled to be signed in Geneva on Friday and at this juncture, de-mining operations will start to clear the waterway to ensure safe passage—and whilst world leaders hailed the return to status quo ante bellum as positive, market reactions were less enthusiastic than expected, with energy prices not expected to come down soon and more time needed to restore lines of distribution and refining. It remains unclear whether Tehran will be able to impose tolls on transiting vessels. The issue of enriched uranium has been tabled for now and Israel was not party to the talks and has not yet responded to the outcome. Questions also remain with respect to Lebanon and the Israeli occupation at the southern border. Although calling it a grand deal, the United States is in a significantly weaker strategic position than when they started the war, failing to achieve objectives laid out for beginning the joint conflict in the first place and not substantively different than what was agreed to under the Obama administration in 2015 and uncertainty remains how enduring this peace might be.