The United States has eased oil sanctions on Iran for a period of 60 days following Iran's agreement to permit international nuclear inspections. This development comes on the 116th day of the ongoing conflict, while a ceasefire in Lebanon remains in effect, according to Al Jazeera.

The global economy is facing uncertainty as Iran has effectively closed the Strait of Hormuz amid ongoing conflict with Israel and the United States. This strait is crucial for the passage of approximately one-fifth of the world's oil and gas. While some ships have managed to navigate the strait, they have done so under Iran's conditions, reportedly paying tolls for safe passage. The situation remains tense as the world awaits the reopening of this vital waterway.

Japan is contemplating the deployment of its navy to assist in demining operations in the Strait of Hormuz, a move that follows a ceasefire agreement between the US and Iran, according to Al Jazeera.

Iran's chief negotiator, Mohammad Ghalibaf, announced the successful conclusion of technical talks with the United States in Switzerland. He stated that an agreement was reached to release $12 billion in frozen assets.

Iran is observing the developments of ongoing negotiations with the United States, which are expected to be complex and protracted. This comes amid internal political disputes within Iran, leading to a cautious optimism among its citizens regarding the potential outcomes of the deal.

On day 117 of the ongoing conflict, Iran and the United States are in disagreement over nuclear inspections and the strategic Strait of Hormuz, as negotiators aim to finalize a deal within the next 60 days. Additionally, the US Senate has taken steps to limit the war powers of the executive branch, according to Al Jazeera.