As the world continues to hold its breath over whether the fragile ceasefire in the Persian Gulf will hold, the long-awaited details of the memorandum of understanding (MOU) between the United States and Iran have come to light via Bloomberg.
Over the course of much of the war, the evolution of negotiations surrounding the MOU and a potential peace deal was a market mover, with social media posts from U.S. President Donald Trump, leaks to the press (most notably Axios) and various Middle East sources playing a major role in the evolution of price trends within the oil market.
In more recent times, the MOU has been a source of controversy, both in U.S. domestic politics, where several prominent figures believe Trump has given away too much and in Israeli politics, where an Israeli government request to view the terms of the MOU was reportedly refused by Washington.
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