{"text":[[{"start":10.1,"text":"The US and Iran will “stand down” and halt reciprocal attacks in the Strait of Hormuz, a US official said on Sunday, signalling an end to the tit-for-tat strikes that have reignited Middle East tensions in recent days. "}],[{"start":25.4,"text":"If confirmed by Iran, the pause in military activity would pave the way for negotiations to resume under the fragile ceasefire between the two countries that was agreed earlier this month."}],[{"start":37.3,"text":"“Technical talks are slated to continue on all areas of the MOU,” the US official told the FT, referring to the memorandum of understanding signed by the US and Iran on June 17. "}],[{"start":50.65,"text":"“Our understanding is that both sides will stand down for now and vessels can move freely,” the official added. "}],[{"start":57.15,"text":"The comment from Washington suggests the US is attempting to prevent the recent skirmishes from spiralling out of control, which would jeopardise the deal and raise the prospect of a return to full-blown war."}],[{"start":68.65,"text":"Although President Donald Trump has faced a backlash for failing to extract any big concessions from Tehran in MOU, the prospect of an end to the war has lowered oil prices ahead of the midterm elections in November, helping his Republican Party. "}],[{"start":84.10000000000001,"text":"Oil prices rose briefly in opening trades in Asia but pared gains. Brent was almost $72 a barrel after rising just under 2 per cent at the start of trading, while US benchmark West Texas Intermediate was up slightly at just below $70."}],[{"start":100.60000000000001,"text":"Both the US and Iran had accused the other of violating the truce, which extended an April 8 ceasefire for 60 days to allow negotiators to iron out the biggest sticking points, including Tehran’s nuclear programme. "}],[{"start":114.55000000000001,"text":"Under the terms of the plan, Tehran agreed to reopen the strategic waterway and allow traffic to gradually return to prewar levels, while the US would lift a naval blockade on Iranian ports and release some of Iran’s frozen funds held overseas"}],[{"start":130.10000000000002,"text":"But the two sides traded strikes over the weekend, with the US targeting Iranian military surveillance infrastructure, communication systems, air defence sites, drone storage facilities and minelayer capabilities."}],[{"start":142.65000000000003,"text":"US Central Command, which oversees military activity in the Middle East, said it had launched the strikes to retaliate for Iranian attacks on container ships."}],[{"start":152.45000000000005,"text":"The US launched its first offensive on Friday in response to an Iranian drone offensive on the Singapore-flagged container ship Ever Lovely, and followed with more strikes after an Iranian attack on the Panama-flagged tanker Kiku in the early hours of Saturday."}],[{"start":168.05000000000004,"text":"Centcom said the vessel was passing near the Strait of Hormuz with more than 2mn barrels of crude oil."}],[{"start":174.65000000000003,"text":"Iran’s Revolutionary Guard Corps hit back within hours, saying in a statement early on Sunday that it had carried out missile and drone strikes targeting eight US military installations in Kuwait and the US Navy’s Fifth Fleet in Bahrain, according to Iran’s IRNA state news agency."}],[{"start":198.75000000000003,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1782708497_2124.mp3"}