BlockBeats News, August 15th. According to Politico, the month-long ceasefire agreement between the US and Iran is set to expire next Monday. If not extended, the nearly six-month war could escalate once again. White House officials have stated that as of Friday afternoon, the negotiations are still at a "standstill" and no extension arrangement has been heard of. "The distance is not important; the key is whether Iran is willing to return to the negotiation table, and currently, they are not."

The difficulty in the negotiations stems from the internal power struggle in Iran, where the Revolutionary Guard, religious factions, and the government have differing positions. An agreement requires approval from all factions to be effective. The main points of contention are sanctions, frozen assets, and passage through the Strait of Hormuz. The US has stated that any form of toll or passage control is "unacceptable."

The Trump administration has stated that if Iran rejects the agreement, the US reserves "all options." The sanctions and blockades have severely impacted the Iranian economy, and Iran should return to the negotiation table. However, insiders believe that the US may be underestimating Iran's resilience. If the US wants to stabilize the situation before the midterm elections, prompt action is needed. (Finance Magnates)