U.S. and Iran Report Major Progress Toward Phased Framework to End Hostilities

Overview

• President Donald Trump said negotiators made orderly progress but instructed them not to rush and kept a U.S. naval blockade in place until any deal is reached, certified and signed.
• Reports describe a draft memorandum that would extend a ceasefire for roughly 30–60 days, require Iran to clear mines and allow free passage through the Strait of Hormuz, and grant conditional sanction exemptions to let Iran sell oil.
• Iranian officials acknowledged advances on many points but denied a signature was imminent and said nuclear matters would be negotiated in a subsequent phase under strict conditions.
• Key technical and political hurdles remain, including how to handle Iran’s stock of highly enriched uranium, the design of IAEA verification, and final approval by Iran’s senior leadership and skeptical U.S. and regional political actors.
• Markets and regional capitals reacted to weekend signals of a deal with lower oil prices and cautious optimism, but the arrangement is fragile and could change as negotiators resolve verification details and win formal endorsements.