India, May 30 -- The potential breakthrough in the three-month-old US-Iran war hangs in the balance as both sides navigate a tense diplomatic endgame. While American and Iranian negotiators have reportedly reached a tentative agreement to extend a fragile ceasefire by 60 days, the deal remains unfinalised and awaits US President Donald Trump's personal approval. At the centre of the deadlock is a precondition from Tehran that is the guaranteed access to $12 billion in frozen Iranian assets currently sitting in Qatari accounts.

According to sources familiar with the negotiations, Tehran is insisting that the release of these funds be the primary "first step" of any Memorandum of Understanding (MoU). Iranian officials have signalled that t...