This is not some grand "deal" that ends the war. It is basically another framework / pause / kicking-the-can exercise: another 60 days to maybe come up with actual terms..
Iran is not suddenly surrendering leverage. The nuclear issue is not magically solved. The regional risk is not gone...
Yet markets are acting like the war premium just disappeared, oil is dumping, and everyone can sail freely through the Strait tomorrow.. which, as I’ve already said, would not even be realistic under a proper peace deal..
Iran's Foreign Ministry Spokesman: The memorandum of understanding is not a final agreement with Washington, but rather an understanding that raises the key points of contention and affirms the end of the war.