President Trump Confirms U.S. Will Not Extend Iran MOU Deadline, Announces New Economic Measures
President Trump confirmed that the U.S. will not extend the 60-day deadline for peace talks with Tehran, as the U.S.-Iran memorandum of understanding (MOU) expired without major objectives being met. The MOU, signed on June 17, aimed to reopen the Strait of Hormuz, end Iran’s nuclear program, and achieve a final peace deal. President Trump stated that while Iran desires a deal, they are unwilling to agree to the necessary terms, particularly regarding their nuclear program. Following the expiration, Treasury Secretary Scott Bessent announced that the Trump administration plans to implement unprecedented economic measures against Iran next week, signaling a shift towards intensified economic pressure. Traffic in the Strait of Hormuz has reportedly come to a standstill, with the U.S. Navy redirecting 64 commercial ships since mid-July. 
