Iran reaffirms it won't keep its end of the deal so long as the US doesn't as well

• Iran will not execute its commitments in the memorandum of understanding as long as US is not fulfilling its commitments
• We are not the ones that is volating the memorandum of understanding
• US is the one repeatedly breaching it
• The memorandum of understanding is going through a crisis phase currently
• Iran trying to reach a joint mechanism with Oman on Strait of Hormuz but US is hindering those efforts

The remarks above are from the Iran foreign ministry. And so, the blame game continues as both sides are saying that the other is the one that is violating the ceasefire deal and not living up to their end of the bargain on the memorandum of understanding.

This once again just reaffirms a total breakdown in communication between both sides, essentially marking a reset from before the deal was signed three weeks ago. It remains to be seen if things can even be salvaged at this point.

What is worse is that the Strait of Hormuz situation has been reset as well, going back to what it was during the height of the conflict. From earlier: Back to the drawing board on the Strait of Hormuz

As such, the latest developments will continue to keep markets on edge for the most part. While talks are still possible, they don't seem to be imminent at this stage. And even if they are, there are still major differences between the US and Iran on nuclear/uranium positions. So, that won't likely be resolved any time soon.

As a reminder, Iran's main objective will be to continue to play for time by kicking the can down the road. All of this seems to be part of that strategy. It is a real test on Trump's patience and his limits the longer this drags on.



This article was written by fl9bde53b91e184082bbe3aa3acaaf2cb0 at investinglive.com.