India, June 18 -- First, a quick recap of what the US-Iran MoU means. Iran's regime is intact - and its nuclear programme is where it was in June last year - and has wrested major economic (a possible future charge on ships passing through Hormuz Strait; a $300 billion reconstruction fund from other West Asian countries; defreezing of its foreign accounts) and geopolitical (Israel will have to hold its hand against Iran's proxies in the region) concessions. The Trump administration can spin this any way it wants, but the US has not won this war. Its partner Israel had ended up with a bloody nose. Many of Iran's neighbours have suffered collateral damage - and will now enter a new period of chaos, without the US security umbrella.

For yea...