Summary
- Iran’s Foreign Ministry said it will not fulfill its obligations under a memorandum of understanding unless the US first meets its commitments.
- Military tensions between the US and Iran are continuing, and Iran’s Islamic Revolutionary Guard Corps navy has said it will close the Strait of Hormuz until further notice.
- Market participants say prolonged uncertainty over US-Iran negotiations could weigh on global oil prices and sentiment toward risk assets.
Iran’s Foreign Ministry said it will not fulfill its obligations under a memorandum of understanding with the US unless Washington first honors its own commitments.
Crypto-focused media outlet BlockBeats reported on July 13 that a spokesperson for the ministry said the US had repeatedly violated the agreement.
Iran will not carry out the commitments in the memorandum of understanding it signed with Washington unless the US follows through on its promises, the spokesperson added.
The comments came as military tensions between the two countries continued. Iran’s Islamic Revolutionary Guard Corps navy recently said it would close the Strait of Hormuz until further notice.
Markets are watching whether prolonged uncertainty over US-Iran negotiations will weigh on global oil prices and sentiment toward risk assets.
