Iran's Phased Ceasefire Leaves Nuclear and Sanctions Terms Unresolved

The U.S.-Iran ceasefire announced June 15, 2026, was structured as a series of phases rather than a complete deal. Iran's tentative agreement to extend terms leaves critical negotiations pending on sanctions relief and nuclear commitments. That separation carries risk: until the underlying disputes are formalized, the operational opening of the Strait of Hormuz coexists with unresolved political framework, leaving both sides room to backtrack.