A memorandum of understanding signed by the United States and Iran on June 17 is due to expire next Sunday, amid a continuing wartime stalemate between the two countries. The situation has created uncertainty for international markets and regional stability, according to an Al Jazeera report cited by Amardesh. The strategically important Strait of Hormuz remains a central focus of the crisis.

Article 5 of the memorandum had guaranteed the safe passage of commercial vessels through the waterway. However, shortly after the agreement was reached, the United States and Iran resumed attacks on bases and military installations across the Gulf region. Pakistan has stepped up mediation efforts before the memorandum expires, seeking to halt the war and restore normal maritime movement through the strait.

Pakistan’s Interior Minister Mohsin Naqvi has visited Tehran for talks with senior Iranian officials. Iran remains firm on conditions for reopening Hormuz, including an end to US military operations and the release of Iranian funds held abroad. President Donald Trump has alternated between threatening escalation and promising a peace deal soon, increasing concern over whether a new agreement can be reached.