Overview
- Negotiators from Washington and Tehran say they have a near‑final memorandum to extend the cease‑fire for 60 days and to start talks on Iran’s nuclear program, with drafts reported on May 28–29.
- President Trump convened a Situation Room review and has delayed final sign‑off for a few days while advisers and mediators press for clarifications on sanctions and guarantees.
- The draft would reopen the Strait of Hormuz to unrestricted shipping, require Iran to remove naval mines within 30 days, and suspend U.S. port restrictions proportionate to resumed traffic.
- Tehran’s negotiating team signaled readiness to approve the text but hard‑line parliamentarians and the IRGC publicly disputed parts of the deal, especially any transfer of highly enriched uranium to third countries.
- If the memorandum remains unsigned the risk of renewed strikes stays real, and markets, shipping firms and mediators such as Pakistan will watch closely for decisions on sanctions relief, uranium disposition and enforcement measures.