Iran-US Deal Frays Over Hormuz Routes and Nuclear Checks

Global oil markets and shipping lanes face renewed strain as Iran and the United States trade conflicting interpretations of their interim agreement to end months of conflict. The 60-day window for final talks, signed last week, was meant to restore safe passage through the Strait of Hormuz and establish verification for Iran’s nuclear program, yet both sides now dispute the terms on the ground.

A Singapore-flagged container ship, the Ever Lovely, was struck by an object off Oman on June 25 while following a southern route endorsed by Oman and the International Maritime Organization. The vessel sustained bridge damage but reported no injuries and continued its voyage. Two U.S. officials told Reuters the strike came from an Iranian drone; Iranian authorities described the incident as the responsibility of any vessel using unauthorized routes and have not claimed responsibility. The IMO immediately suspended its escort operations for hundreds of stranded ships.

Iran’s Deputy Foreign Minister Kazem Gharibabadi stated that safe passage cannot be guaranteed without Tehran’s role as a coastal state. The United States and Gulf Cooperation Council responded by demanding free, unconditional navigation without tolls. Oil prices dipped on Friday even as traffic through the strait remained far below pre-conflict levels of roughly 130 vessels per day.

IAEA Director General Rafael Grossi said a strong verification system is required to confirm that Iran does not develop nuclear weapons, noting that the memorandum assigns the agency supervisory responsibility. Iran maintains that access to bombed sites and decisions on its enriched uranium stockpile will be settled only in a final agreement and has rejected new commitments beyond the memorandum language. U.S. officials have asserted that highest-level inspections were already agreed.

Additional points of friction include Israel’s operations in Lebanon, financial sanctions relief, and the future of Iranian ballistic missiles. South Korean vessels began exiting the strait over the weekend, while Saudi Aramco resumed loadings at Ras Tanura after a four-month pause. The memorandum set a June 30 start for technical working groups, yet public statements from both capitals continue to diverge on what has actually been settled.