The 60-day deadline for an Iran peace deal is expiring. Here’s where things stand

The 60-day deadline for an Iran peace deal is expiring on Monday, with U.S. and Iranian negotiators further apart than they were at the time of signing the interim deal in June. Talks have focused on reopening the Strait of Hormuz and lifting the U.S. blockade on Iran, both of which were supposed to be addressed under the agreement.

Iran has not shown any willingness to compromise on the strait or initiate detailed nuclear talks. The U.S. faces an unenviable dilemma, as acceding to Iran's demands would grant it control over a vital international waterway and admit defeat in the war it started alongside Israel. Conversely, escalating the conflict further would strain U.S. missile defense capabilities, harm the global economy, and raise gas prices before U.S. congressional elections. Both sides remain entrenched in their positions, with neither showing signs of yielding.