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The United States Treasury Secretary Scott Bessent has told CNBC that there’s “a chance” the Trump administration and the Islamic Republic of Iran will reach a deal within the next 24 hours over the Strait of Hormuz (SoH).

If that’s the case, it’d mark the second time in the Iran War that the two sides agreed to allow civilian shipping to move through the SoH once more free of charge (the first time being with the Memorandum of Understanding).

President Donald J.

Trump Tells Iran That He Wants A Deal Over The Strait Immediately: President Trump is calling for Iran to reach a deal with Oman on the Strait of Hormuz as soon as Tuesday, or face more ‘decapitation’ air strikes.

“I want to give them every last chance before decapitation,” Trump told reporters on Monday. “You’ll find out today or tomorrow. I mean, they’re going to go quickly, one way or the other. It’s not very complex.”

President Donald J.

The US Defense Budget After the Iran War – The United States and Iran are trapped in a bizarre, slow-motion war in the Persian Gulf. Neither seems to actually want to fight the war. But now, neither can back down. The war continues to drag on and is likely to do so for a while. Earlier, the conventional wisdom was that US President Donald Trump would be compelled to end the war before the US midterm elections. The war is woefully unpopular and will likely hurt Republicans’ chances in November.

In 2007, actor and comedian Robin Williams traveled to Kuwait for an appearance at Camp Arifjan.
Williams was doing his best to entertain the troops when they suddenly stopped paying attention to the stage. They immediately shifted their focus behind them to render honors as the American flag was lowered. Williams wasn’t so much offended as mildly perplexed. At first, he didn’t understand what was going on.
Related: Bob Hope entertained the troops from WWII to Desert Storm
Once the service members explained it to Williams, he brought it back to why he traveled 8,000 miles from home.

Iran Is Offering Trump a Hormuz Off-Ramp—But Not the One He Wants: Trump can accept the Oman-Iran shipping arrangement taking shape right now. What he cannot do is call it the thing he asked for.

Iranian Foreign Minister Abbas Araghchi told his own cabinet on Sunday that talks with Muscat over managing the Strait of Hormuz are “nearing completion” and in their “final stages.

The Trump administration’s ongoing war in Iran has been costly both in terms of dollars spent and munitions expended by the Pentagon. How much the war has cost this far has been declared by the White House — but also hotly disputed by outside analyses.

Earlier last month, American Secretary of Defense Pete Hegseth testified before lawmakers, explaining to the Senate Appropriations Committee that the costs associated with the war in Iran have totaled nearly $38 billion, a figure that has been disputed by other sources as an undercount of the war’s costs.