{"id":93313,"date":"2026-06-21T08:34:30","date_gmt":"2026-06-21T07:34:30","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=93313"},"modified":"2026-06-21T08:34:30","modified_gmt":"2026-06-21T07:34:30","slug":"tht-didnt-last-long","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/06\/21\/tht-didnt-last-long\/","title":{"rendered":"Tht didn’t last long"},"content":{"rendered":"

I was not surprised by a report from the New York Times<\/a> last night, which noted that:<\/p>\n

\n

Iran\u2019s military command blamed the U.S., saying it failed to prevent Israel from violating the cease-fire in Lebanon. Mediators in Pakistan said \u201ctechnical talks\u201d between the U.S. and Iran to end the war would be held on Sunday.<\/p>\n<\/blockquote>\n

As the FT added:<\/a><\/p>\n

The [Iranian] Revolutionary Guards said on Saturday that the crucial waterway would be closed to all vessels as it accused Israel of \u201ccrimes\u201d and the US of a \u201cviolation of its commitments\u201d under a ceasefire.<\/p><\/blockquote>\n

As they noted:<\/p>\n

Tehran had agreed to gradually reopen the strait under the terms of a memorandum of understanding it signed with Washington on Wednesday. That was meant to be followed by the start of nuclear talks in Switzerland on Friday. But Iran postponed negotiations because of the fighting between Israel and Hizbollah \u2014 its most important proxy \u2014 in Lebanon.<\/p><\/blockquote>\n

And who can blame them? If the US signs a deal and is unable to deliver on it, within hours of it supposedly being in place, what else can Iran do?<\/p>\n

If the US is serious about its desire for peace and the need to avoid a world depression, which Trump says will happen<\/a> without the Strait of Hormuz being reopened, then it has to demonstrate that it has the capacity to deliver on its promises, as the aggressor now seeking peace, or Iran has no choice but to respond. That it has done so is entirely predictable and reasonable.<\/p>\n

I noted the euphoric response in markets to this supposed deal last week. When will they learn that all that Trump can deliver is publicity stunts to create market volatility from which his entourage can profit, and that peace in the Gulf is still a very long way off as yet? This conflict is a long way from. being over as yet, and probably won't be un til the US endorses severe economic and military sanctions on Israel, which I think are necessary now.<\/p>\n

All my warnings about depression to come do, then, remain in place, only now with US Presidential backing, not that, I admit, such a thing counts for much.<\/p>\n","protected":false},"excerpt":{"rendered":"

I was not surprised by a report from the New York Times last night, which noted that: Iranian Forces Say They Closed Strait of Hormuz
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,204,35,16,203,106,75],"tags":[],"class_list":["post-93313","post","type-post","status-publish","format-standard","hentry","category-corruption","category-economic-justice","category-economics","category-ethics","category-fascism","category-politics","category-usa"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/93313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=93313"}],"version-history":[{"count":1,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/93313\/revisions"}],"predecessor-version":[{"id":93314,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/93313\/revisions\/93314"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=93313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=93313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=93313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}