Last week, US media outlet Axios reported that US and Tehran were on the verge of agreeing on a one-page memorandum of understanding, raising hopes for potential de-escalation. However, the US president dismissed Iran’s response to the proposal, calling it ‘totally unacceptable’.
Among its key points, Tehran’s latest proposal included an end to the war on all fronts, the lifting of the US blockade on Iranian ports in the Strait of Hormuz, and guarantees against any further attacks on Iran. Washington’s swift rejection led to a spike in oil prices, while the traffic through Hormuz remains highly limited. Meanwhile, in an interview with CBS News, Israeli Prime Minister Benjamin Netanyahu said the war with Iran is not ‘over’, as Tel Aviv is also stepping up its attacks on Lebanon.