The agreement reached between the leaders of the US and Iran on June 17 has created a 60-day period to finalize a comprehensive peace treaty, which will conclude around August 17, 2026, leaving just 41 days left. The completion of this agreement hinges on the resolution of five critical issues: ensuring free passage through Hormuz, addressing Iran's nuclear ambitions and the disposal of enriched uranium, granting IAEA inspection access, providing full sanctions relief, and implementing a $300 billion reconstruction initiative for Iran. With Iran obstructing inspections, insisting on tolls for Hormuz, and the parliament speaker openly rejecting essential US demands, experts caution that failure to reach an agreement could reignite full-scale conflict, potentially triggering the oil supply crisis that previously escalated gas prices to alarming highs across the United States.
