The collapse of the Islamabad Memorandum was a predictable reckoning. The US-Iran deal promised a cessation of hostilities, an end to Iranian restrictions on the Strait of Hormuz, a phased reduction of American military assets in the region, sanctions relief for Tehran, and a substantial economic commitment to Iran’s reconstruction. A 60-day deadline was set to resolve the outstanding nuclear-programme issue. By early July, that architecture lay in rubble. The Houthis in Yemen, acting at Iran’s behest, have announced a blockade of the Bab al-Mandab strait. Saudi Arabia and 13 other nations have formed the Multinational Maritime Defence Alliance in…
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