According to CoinMeta, and as cited by The Wall Street Journal based on sources familiar with the matter, the Trump administration has repeatedly indicated to mediators that it has no intention of re-engaging in the terms of the memorandum of understanding reached with Iran in June this year. Trump has now turned to economic measures to pressure Iran and is willing to wait and see if this strategy will be effective. The agreement reached in June was intended to reopen the Strait of Hormuz and initiate negotiations on nuclear issues and the end of the war in exchange for relaxing sanctions and allowing Iran to access its frozen funds abroad. However, it collapsed just weeks later following an Iranian attack on vessels. Iran insists that the United States should resume the implementation of the June agreement and believes that Article 5 of the agreement actually acknowledges Iran's right to decide the conditions for the opening of the Strait of Hormuz. The Iranian Revolutionary Guard stated that Iran would only reopen the strait if the United States resumed the agreement, granted Iran exemptions for oil sales, and ended the maritime blockade. Recently, Pakistan, Oman, and Qatar have attempted mediation, but progress has been limited. Analysts say that the memorandum of understanding reached in June is effectively dead, and both sides are currently preparing for an escalation of tensions.