What happened today is best described, despite much more dramatic categorizations coming out of Tehran and Washington, is a 60-day ceasefire extension, now reportedly signed by both parties, that reopens the Strait of Hormuz, while the original alleged reason for going to war, the nuclear weapons issue, stays open on the negotiating table. Both sides are buying time in order to get the oil flowing through Hormuz. So, today’s deal is an oil deal, first and foremost. It’s not a victory for anyone. It’s just bringing things full circle back to before the conflict started–plenty lost, nothing gained (in the…
News Timeline:
Track the development of this news story across the Internet.