A memorandum of understanding that the US and Iran are on the verge of signing calls for the immediate reopening of the Strait of Hormuz, a 60-day ceasefire extension, and a framework for addressing Iran's nuclear programme. Meanwhile, several contentious issues remain unresolved, Axios reported Thursday, citing a diplomat from one of the mediating countries and a US official. The deal, mediated jointly by Qatar and Pakistan, would be called "the Islamabad Agreement", Axios said. Earlier on the day, US President Donald Trump said that a peace deal with Iran could be signed in Europe as early as this weekend with describing the broader agreement as a "great settlement". The Ceasefire And The Strait Under the MOU, the Strait of Hormuz would reopen immediately without tolls, with shipping volumes returning to pre-war levels within 30 days. In return, the US blockade would also be lifted. The agreement would extend the ceasefire, including in Lebanon, for 60 days, during which nuclear negotiations would be held. The Nuclear Framework Iran would commit to never acquiring a nuclear weapon and to resolving the standoff over its enriched uranium stockpile. A senior US official told Axios that one option under consideration was down-blending Iran's highly enriched uranium inside the country under UN supervision. However, any concrete steps on the nuclear programme would only occur if a second, more detailed accord is reached, which Axios described as an uncertain prospect. ALSO READ: 'Hormuz To Reopen Immediately': Iran Deal Signing Likely In Europe Over Weekend, Says Trump Sanctions Relief Iran would initially receive temporary sanctions waivers allowing it to sell oil for 60 days following the strait's reopening. Further relief would be tied to compliance and demonstrated good faith in subsequent negotiations. "There is no set date for sanctions relief and it will be tied to the implementation of the deal," the mediating country's diplomat told Axios. The Unresolved Billions The thorniest outstanding issue concerns billions in Iranian funds frozen overseas. ALSO READ: US-Iran Deal Around The Corner? Trump Touts 'Great Settlement'; Tehran Says No Final Decision Made Iran has insisted on receiving some money immediately upon signing, while the US wants disbursement in tranches based on compliance. Axios reported that a US source outside the administration raised concern the frozen funds issue may be addressed in a secret side agreement, a possibility a US official denied to the outlet. The tentative text was agreed Wednesday night after hours of negotiations between Qatari mediator Ali Al-Thawadi and Iranian Foreign Minister Abbas Araghchi, with Trump envoys Steve Witkoff and Jared Kushner on the phone throughout, Axios said. As of Thursday evening, the deal had been approved on the Iranian side at high levels but likely not by Supreme Leader Mojtaba Khamenei, two sources with knowledge told Axios. Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
A memorandum of understanding that the US and Iran are on the verge of signing calls for the immediate reopening of the Strait of Hormuz, a 60-day ceasefire extension, and a framework for addressing Iran's nuclear programme. Meanwhile, several contentious issues remain unresolved…
See this event through different lenses
Compare how Western, Iranian, Israeli, Global South, and Pro-Peace perspectives frame this event.
Compare PerspectivesLoading notes...
International mediators have proposed a 10-day ceasefire between the United States and Iran, according to a senior Iranian official cited in reports. The measure is described as intended to reduce hostilities and allow renewed talks on a prior interim agreement.
Both sides are assessing next steps in the current regional security situation.
Reports indicate that a US-Iran ceasefire has broken down amid renewed fighting, with the potential impact of mediation efforts by Pakistan, Qatar, and Oman remaining unclear. Earlier diplomatic steps included a June memorandum of understanding between the parties for further negotiations and talks hosted in Geneva in February.
The summary also references Europe’s historical role in diplomacy, including the 1814-15 Congress of Vienna.
Donald Trump stated in a Fox News interview that his representatives had spoken with Iranian officials an hour earlier and that those officials wanted to make a deal to end the conflict, though he noted they had broken prior agreements and expressed uncertainty about whether one would be reached.
He added that people do not want to die and that Iran would need to proceed carefully to avoid further losses. The remarks come amid an ongoing US-Iran conflict that has involved casualties and shipping disruptions in the Strait of Hormuz, with some social media users criticizing the repetition of similar statements.
Why the Iran-US ceasefire is falling apart Iran and the US have resumed fighting because they don’t see each other as ‘reliable negotiating partners’, says analyst Ali Vaez. Neither Iran nor the United States seems able to deliver a “knockout blow at an acceptable price” to the other side, and both know “they have no choice other than engaging in diplomacy”, but they’re not ready to make uncomfortable concessions, argues Ali Vaez, director of the Iran Project at International Crisis Group.
Vaez tells host Steve Clemons that Tehran and Washington are trying to “enforce their own interpretation” of the ceasefire agreement they signed last month. President Trump has become “frustrated” with diplomacy because he’s not seeing “the kind of quick results that he likes to see”, Vaez says.