US-Iran MoU and Strait of Hormuz: The US and Iran signed a preliminary memorandum of understanding to end the war and reopen the Strait of Hormuz, with Washington saying shipping will be toll-free and the naval blockade lifted, while markets cheered and oil slid but industry voices warned transit could stay disrupted for weeks. Sanctions and assets dispute: Vice President JD Vance denied Iran will receive “billions” of assets, stressing any frozen-funds access would be tied to performance, as European allies signaled sanctions relief only after clear nuclear steps. Lebanon remains the flashpoint: Iran’s foreign minister said ending the war includes ending Israel’s occupation of Lebanon, while Trump urged “no more attacks” and Israel signaled it will keep operating in Lebanon despite the MoU. G7 pressure and transparency fight: At the G7, leaders discussed the tentative Iran framework alongside Ukraine, while US Democrats demanded the deal text be released. World Cup politics in LA: Iran opened its 2026 campaign with a 2-2 draw against New Zealand at SoFi Stadium amid protests and diaspora symbolism, while Iran’s coach complained the team was ordered to leave the US immediately after the match. Regional reactions: Qatar, Malaysia, and Gulf partners welcomed the breakthrough, but caution remains across energy and security planning.