Iran and US play down hopes for imminent breakthrough in war

Iran and US play down hopes for imminent breakthrough in deal to end war

US and Iran are negotiating a 14-point MOU to reopen the Strait of Hormuz, with nuclear talks deferred to a separate 60-day phase; both sides say a final agreement is not imminent. Closed since February 28, the strait blocks ~20% of global oil and LNG flows, keeping energy and hardware supply chain costs elevated with no confirmed resolution timeline.