US-Iran MoU Momentum: Iran’s chief negotiator Mohammad Bagher Ghalibaf says the Strait of Hormuz will be administered by Tehran and “never return” to pre-war conditions, as the US and Iran set up channels to keep shipping open and reduce Lebanon fighting. Nuclear Dispute: US VP JD Vance claims Iran agreed to bring IAEA inspectors back, but Iran denies any new nuclear commitments and says no inspections will cover bombed nuclear sites. Lebanon Deadlock: Israel’s Bezalel Smotrich says there will be no withdrawal from southern Lebanon while Hezbollah remains, even as Washington hosts Israeli and Lebanese officials for new ceasefire talks. Diplomacy Under Pressure: Iran says Switzerland talks ended with working groups and implementation mechanisms, while Iran’s president Masoud Pezeshkian heads to Pakistan to press full MoU implementation. Regional Outreach: US Secretary of State Marco Rubio is set to visit UAE, Kuwait and Bahrain to sell the deal to wary Gulf allies. Markets & Energy: Oil prices fall after sanctions waivers, while Hormuz traffic and shipping activity show signs of recovery. Turkey Security: Turkey detains 209 suspects in anti-terror raids ahead of the NATO summit. US Domestic Fallout: The Pentagon seeks about $80bn for the Iran war, and a US DOJ probe targets a New York coffee chain after it banned a pro-Israel lawmaker.