After 21 hours of high-stakes negotiations in Pakistan, U.S.–Iran talks have ended with no deal — and major questions remain.

In this episode of Off The Record, Zina Rakhamilova breaks down the latest developments, from Iran’s refusal to disavow its nuclear program to the ongoing tensions surrounding the Strait of Hormuz — a chokepoint for 20% of global energy.

We also examine the role of Hezbollah in ceasefire talks, Israel’s Operation Eternal Darkness, and whether any real military objectives have been achieved.

Joining the show is Dr. Jonathan Schanzer, Executive Director of the Foundation for Defense of Democracies and former U.S. Treasury terrorism finance analyst, to unpack:

• The gap between U.S. and Iranian demands
• Whether the ceasefire can actually hold
• What “decimating Hezbollah” would realistically look like
• Where U.S. and Israeli interests may diverge
• The strategic implications of targeting infrastructure like bridges and power plants

As the region stands at a crossroads, this conversation goes beyond the headlines to examine what comes next.

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