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Middle East Overview: July 2026

Violence declined in Lebanon and Gaza in June, but Israeli military pressure persisted, while the US-Iran MoU opened a fragile negotiation period in which disputes over implementation played out most clearly in the Strait of Hormuz.

What will the US-Iran deal really change?

Last week’s memorandum may have reopened diplomacy for Iran and the US, but with the Strait closed again and reports of 'encouraging progress' today, the question is who still holds the cards?