As the conflict in Iran approaches three months, President Donald Trump has not finalized a memorandum of understanding aimed at reopening the Strait of Hormuz and establishing a framework for negotiations regarding Iran's nuclear program. Trump announced a Cabinet meeting at the White House, citing potential bad weather at Camp David.
Despite Trump's previous statements suggesting progress in negotiations, Iran has not indicated a willingness to relinquish control of the Strait of Hormuz. Iran is demanding the U.S. unfreeze $12 billion of its $24 billion in assets as a prerequisite for signing the memorandum.
Former Army Vice Chief Gen. Jack Keane commented on Fox News that Iran's actions, such as mining the Strait, indicate a lack of good faith in negotiations. Gen. Joseph Votel also noted that Iran appears to be applying pressure on the U.S.
The Institute for the Study of War reported that talks are at a significant impasse, with Iran refusing to discuss its nuclear program without upfront economic relief, while the U.S. insists on commitments from Iran before any asset unfreezing. The assessment highlighted that both sides remain far apart on key issues, including Iran's right to enrich uranium and the conditions for reopening the Strait of Hormuz.
Iran is also seeking an end to military operations in Lebanon, while Israeli Prime Minister Benjamin Netanyahu has stated that Israeli military operations against Hezbollah will continue. The U.S. official indicated that any agreement must ensure Israel's right to self-defense.
In related news, Defense Secretary Pete Hegseth is set to attend the Shangri-La Dialogue in Singapore, where he will discuss U.S. strategy in the Indo-Pacific region. Additionally, the House Armed Services Committee has released a draft of the National Defense Authorization Act, proposing $1.14 trillion in military spending for Fiscal Year 2027.