Just in: Iran says it is closing Hormuz again.

Interesting that Iran is using its biggest leverage at this stage.

It is saying in clear terms that it will not tolerate any level of significant attacks on Lebanon by Israel.

The big question now is whether Israel will stop, even though it has clearly announced that it will not withdraw its forces and will bomb targets it considers threats to its forces inside Lebanon.

Israel’s actions obviously do not amount to a ceasefire, especially as it conducted air strikes today on Hezbollah positions inside Lebanon after Hezbollah targeted Israeli troops inside Lebanon, not across the border.

Lebanon has become the fault line on which the entire deal rests and the US will either choose to pressure Israel to cease attacks or it won’t. If it doesn’t, it’s possible everything will unravel.