"Close" in diplomatic terms means negotiations have moved significantly toward an agreement, with most key terms aligned. "Not enough to open the waterway" is a metaphor showing that despite progress, remaining obstacles prevent a breakthrough or implementation. Specifically, the deal lacks the critical components needed for tangible outcomes like access, relief, or cooperation. "Close but not enough" conventionally implies parties are near consensus but haven't crossed the threshold of an enforceable agreement. The "waterway" metaphor represents a pathway to operational results—such as trade flow or sanctions relief—that requires full agreement to function. The phrase means a negotiated outcome is nearly complete but remains non-operational due to unresolved critical issues.
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