The Abraham Accords red herring

US President Donald Trump’s apparent about-face — signaling on Saturday that a framework agreement with Iran was within reach, only to dash those hopes on Monday by introducing an outrageous new condition — has left negotiators, analysts and global markets in disarray. No one expected the reversal to be linked to an issue unrelated to the stalemate that has left the strategic Strait of Hormuz closed for more than a month, triggering a global energy crunch and threatening a worldwide recession.

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