US Secretary of State: Memorandum of Understanding With Iran Has Expired, Pressure on Tehran Continues

US Secretary of State Marco Rubio said, in remarks reported by the newspaper Donya-e-Eqtesad early on Thursday, September 3, 2026 (12 Shahrivar 1405), that the memorandum of understanding between Washington and Tehran has expired, and that Iran's government will remain under pressure to block funds from reaching terrorism financing channels.

The memorandum concerns earlier US-Iran talks on safely reopening the Strait of Hormuz; Rubio had earlier this summer reported progress in those talks. The strait is the main export route for Persian Gulf oil, and any shift in the outlook for the talks could affect the risk premium in global oil prices and, through that channel, Iran's currency and gold markets. The US State Department had not published further detail on the remarks as of this report.