00:00This is still early days here, so we have to kind of see how this conflict or whether, more precisely,
00:06whether this conflict actually does come to an end.
00:09I still have deep, deep skepticism about this MOU, not just that it's unfavorable to U.S. interests and to
00:18Israeli interests, but also whether anything was actually agreed to in terms of opening the Strait of Hormuz.
00:25I mean, consider the Strait of Hormuz for a moment, right?
00:27The United States is saying that the Strait of Hormuz will be completely toll-free, right?
00:33But that is not what the Iranians are saying.
00:35They're saying we're going to add fees in certain circumstances, environmental fees, transit fees, things like that, which essentially amount
00:43to a toll.
00:44I mean, call it what you want. It doesn't matter. It's still a toll, right?
00:48So there is still a very deep and basic disagreement on the Strait of Hormuz, and that is what the
00:54MOU was really designed to deal with.
00:56Obviously, all of the tougher stuff, like the nuclear issue, that is all being punted until later.
01:02The MOU is in agreement to negotiate later on the really, really tough stuff.
01:06So we can't even get an agreement on the so-called easier stuff, like the Strait of Hormuz.
01:11So that is where we are today, and I think it's unfortunate, and we're going to have to see how
01:17it plays out.
01:17Strait of Hormuz.
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