BAKU, Azerbaijan, August 14. The Strait of Hormuz remains at the centre of the standoff between the United States and Iran as a memorandum of understanding (MoU) signed on June 17 approaches its expiration on Sunday.
The deadlock is creating uncertainty for international energy markets and regional stability. Article 5 of the agreement provides for the “safe passage of commercial vessels” through the strategic waterway, but fighting resumed between the two sides shortly after the agreement was reached.
Pakistan has stepped up diplomatic efforts as the deadline approaches. Pakistani Interior Minister Mohsin Naqvi travelled to Tehran on August 12 for talks with Iranian officials aimed at supporting an end to the conflict and resolving the dispute over navigation through Hormuz.
Iran has maintained its conditions for reopening the strait, including a demand for an end to the US military campaign and the release of Iranian funds held abroad.
Meanwhile, US President Donald Trump has alternated between threats of further escalation and statements suggesting that a peace agreement could be reached soon.
The future of the MoU and the status of the Strait of Hormuz remain key factors for regional security and global energy markets.
