The Memorandum of Understanding laid out the terms for an extended 60-day cease-fire, allowing time for further technical talks to take place.
That deadline is set to expire in mid-August, but amid flare-ups of violence and accusations of violations from both sides, it seems little progress has been made in negotiations.
U.S. envoy Steve Witkoff and Trump’s son-in-law Jared Kushner discussed the Iran deal with mediators in Doha at the end of June, but it’s understood there were no high-level talks held with Iranian officials.
After declaring the cease-fire “over” on Wednesday, Trump said he would speak to his negotiators, but argued it was a “waste of time” dealing with Iran.
Oil jumps amid fresh strikes and renewed uncertainty
After Trump’s latest comments, and following the overnight hostilities, the price of Brent crude oil spiked once again, jumping to almost $79 per barrel Wednesday morning—an increase of over 5% from the $75.86 per barrel recorded Tuesday evening.