Eskandar Momeni began talks in Pakistan on Tuesday as Islamabad tried to revive last month’s collapsed Iran-US interim deal amid a 10th straight day of fighting.
U.S. forces struck Iranian command centers, missile and drone sites, and air defenses, while Iran attacked another tanker in the Strait of Hormuz, forcing its crew to abandon ship.
Three ships transited Hormuz on Sunday, according to Lloyd’s List Intelligence, showing how 10 nights of U.S. airstrikes have not restored traffic through the waterway.
Iran also targeted U.S.-allied states, with Jordan saying it shot down five drones and three missiles and Bahrain sounding missile sirens near the U.S. 5th Fleet base.
Brent crude traded near $90 a barrel and U.S. gasoline averaged $4 a gallon as Washington warned Americans worldwide of possible Iran-linked attacks.
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Strait of Hormuz Crisis 2026: US-Iran Standoff, Global Economic Fallout, and Obstacles to Peace
Overview
In July 2026, tensions between the United States and Iran sharply escalated after Iran targeted a vessel near the Strait of Hormuz. The US responded with a broad military campaign, striking strategic targets across Iran’s southern provinces to weaken Iran’s operational capabilities. Despite these actions, diplomatic efforts continued, with Pakistan playing a key mediating role and its Prime Minister announcing a deal in June. However, these attempts have seen limited success, and the conflict remains unresolved, rooted in a sharp escalation that began in late February 2026. The situation highlights ongoing challenges in achieving lasting peace.