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A confusing weekend in the Gulf saw Iranian Foreign Minister Abbas Araghchi declare the Strait of Hormuz open, US President Donald Trump celebrate on Truth Social, and then Iran's Islamic Revolutionary Guard Corps opened fire at tankers. While the US president is threatening that "we'll have to start bombing again," Tehran is weighing a proposal to release $20 billion in exchange for giving up its uranium. The clock is ticking, with Trump's ultimatum expiring on Wednesday.
Tehran claims the US violated the ceasefire and is demanding “security fees” for passage. At the same time, reports say the US military is preparing to seize Iranian tankers in international waters. President Donald Trump’s ultimatum expires on Wednesday.
By every objective measure, Israel and the US did not lose to Iran. In fact, they inflicted enormous damage on the ayatollahs' regime. But on another front, Israel is in troubling shape: American public opinion, where the share of supporters has fallen to its lowest point in nearly 40 years.
The Israeli Air Force struck Iran with about 19,000 munitions. On at least two occasions, formations were recalled to Israel while en route to Iran after it became clear they were in danger, and dozens of unmanned aircraft fell on Iranian soil. Iran had prepared to launch several daily barrages of dozens of surface-to-surface missiles at Israel, but after several days the number stabilized at about 10 missiles a day. According to Israeli military intelligence, the Iranians have already begun preparing for the next campaign against Israel.
Diplomatic sources familiar with the negotiations say the breakthrough came after Iran’s economic distress intensified under the American blockade. In exchange for reopening the strait, the US will unfreeze $20 billion in funds belonging to the Iranian regime. On the nuclear issue, Iran will be allowed to keep civilian facilities under full supervision and above ground.
