Internationalism No. 88, June 2026 Page 6 The conflict in the Gulf has entered its third month, marked by a precarious truce that reflects a strategic stalemate, with Tehran’s “selective blockade” of Hormuz and the US Navy’s “counter-blockade” of Iranian ports. According to the Pakistani daily Dawn , bilateral negotiations — mediated by Islamabad with the explicit support of Riyadh and the “discreet and indirect” backing of Beijing — appear to centre on the price of reopening the energy artery. For Washington, writes the Saudi newspaper Asharq al-Awsat , the negotiations should yield some kind of “tangible result” on the nuclear issue, allowing both sides to “claim victory”, given that the priority is resuming commercial traffic. To this end, granting Tehran the opportunity to collect some form of revenue has not been ruled out. Iranian “pragmatic” factions are raising the idea of maritime tr...