US-Iran diplomatic deadline expires amid nuclear and maritime tensions

A 60-day deadline for the United States and Iran to finalize a diplomatic agreement under a June Memorandum of Understanding (MOU) expired on Monday without a breakthrough. President Donald Trump stated that while Tehran expresses a desire to “make a deal,” the administration will not extend negotiations under the current MOU framework, asserting that any future agreement must ensure Iran does not obtain a nuclear weapon.

The diplomatic effort faced immediate challenges following a clash over control of the Strait of Hormuz. The impasse has significant implications for global energy markets, as approximately 20% of the world’s oil and liquefied natural gas shipments pass through the strait.

U.S. Treasury Secretary Scott Bessent signaled an upcoming escalation in economic pressure, describing planned measures as being “like have never been seen in the history of economic isolation of a country.” Meanwhile, Iranian negotiator Mohammad Bagher Ghalibaf indicated that the Strait of Hormuz will not be reopened until the U.S. meets specific demands, including the lifting of a naval blockade.