The world sighed in relief when Donald Trump agreed to a memorandum of understanding (MoU) to finally end the conflict with Iran on June 17. But there is now a palpable feeling that hostilities are far from over. The agreement between Washington and Tehran, signed at Versailles on June 18, is better understood as a deferred crisis – one whose contradictions are already visible.
Iran’s closure of the waterway since February has caused one of the largest supply disruptions in the history of global energy markets, driving inflation across the western world and aggravating American motorists at the gas station. It was this economic stranglehold that brought Trump to the table.
