US-Iran Talks Resume in Doha Amid Fragile Truce

After a weekend of escalating hostilities, the United States and Iran have reportedly agreed to halt military strikes and resume high-stakes talks in Doha, Qatar, on Tuesday, June 30, 2026. This eleventh-hour diplomatic push comes just days after a preliminary ceasefire, the Islamabad Memorandum of Understanding, teetered on the brink of collapse following tit-for-tat attacks in the vital Strait of Hormuz. The renewed commitment to negotiations aims to salvage the fragile peace deal, which was designed to end months of conflict, reopen the critical Strait of Hormuz to international shipping, and pave the way for broader discussions on Iran's nuclear ambitions and the lifting of US sanctions. Recent strikes, including Iran's attack on a container ship and subsequent US retaliatory airstrikes on Iranian coastal targets, alongside Iranian counterstrikes on US bases in Kuwait and Bahrain, highlighted the severe tensions plaguing the region. The back-and-forth pushed Brent crude prices to around $72.54-$73.39 a barrel and West Texas Intermediate near $70 a barrel on Monday, reflecting market anxiety over potential supply disruptions. As delegations convene in Doha, previously slated talks in Switzerland were redirected to primarily address the contentious issue of the Strait's administration. While both sides initially agreed to the Strait's reopening, Iran's insistence on controlling its passage remains a major sticking point. Observers will be closely watching for any progress on fulfilling the MOU conditions, including the potential release of frozen Iranian assets and the scope of international monitoring of Iran's nuclear program, as the 60-day negotiation window established by the MOU continues.