US-Iran peace deal hinges on shipping, sanctions relief and deferred nuclear talks

Agreement contains no restrictions on Iran’s ballistic missiles, nor does it call for regime change or surrender Middle East crisis – live updates. The basic structure of the US-Iran deal reached late on Sunday – a return to the prewar status quo – has been on offer from Iran for more than a month. So has the specific architecture: an immediate unwinding of the consequences of the US-Israeli war through the reopening of the strait of Hormuz and a deferral of the actual negotiations on Iran’s nuclear programme, the ostensible cause of the war. The concept of a 60-day ceasefire to resolve these issues has also been a fixture for more than a month.But it has taken the mounting pressure on the US and Iranian economies for both sides to recognise politically that a return to all-out war was unlikely to resolve the impasse, and if so, compromises would have to be struck. Continue reading...