Iran deal clock hits zero as Trump demands ‘white flag’ with new pressure campaign looming

The 60-day window for the United States and Iran to reach a final agreement expired Monday with no deal announced. President Donald Trump, in an interview with Fox News, stated he was in no rush to reach a deal and demanded that Tehran should put up the 'white flag of surrender.' He also confirmed the existence of a direct backchannel with officials from Iran’s Islamic Revolutionary Guard Corps. Reports indicate that the interim agreement, which aimed to negotiate a final deal, collapsed due to disputes over the control of the Strait of Hormuz. Treasury Secretary Scott Bessent has promised an unprecedented new phase of economic pressure to isolate Iran. According to Reuters and The Associated Press, Iranian oil loadings have fallen to less than 500,000 barrels per day, while the country faces severe inflation and declining tax revenues. Experts at the Foundation for Defense of Democracies suggest that this 'maximum pressure on steroids' campaign has forced Tehran to rely on shadow-banking networks and cryptocurrency to evade sanctions. However, analysts warn that it remains unclear whether this economic pain will force the regime to concede or if it will primarily impact the ordinary population, as elite networks linked to the IRGC have historically insulated themselves from such economic turmoil.