US President rejects extending the Iran memorandum of understanding, citing leverage amid ongoing Middle East tensions and naval blockades.
US President Donald Trump stated he will not seek an extension of the expiring agreement with Iran, emphasizing Washington’s leverage through a naval blockade of Iranian ports. He reiterated proposals to declare the Strait of Hormuz as US territory, asserting control over the critical waterway.
Iran’s Foreign Ministry attributed the stalled negotiations to security complexities and US obstructionism, demanding the removal of the blockade. Meanwhile, Jared Kushner’s Middle East visit aimed to advance a US-brokered Gaza ceasefire, with Trump reportedly willing to exercise patience on Iran talks.
West Texas Intermediate crude traded marginally higher, up 0.06% at $85.07, as risk sentiment remained cautious amid geopolitical uncertainty.