Overview
- Late‑May reports say U.S. and Iranian negotiators produced a 60‑day memorandum that would extend the ceasefire, reopen the Strait of Hormuz to unrestricted shipping, and launch formal talks on Iran's nuclear program.
- Vice President J.D. Vance and other U.S. officials describe 'many' progress in the talks while stressing the text still needs top political approvals and President Trump has not yet signed.
- Tehran denies a finalized deal, saying the proposal has not been formally agreed, so the draft remains tentative until both Washington and Tehran confirm it.
- Military clashes and U.S. strikes around the Strait of Hormuz continued even as diplomacy moved forward, leaving the truce fragile while Washington also tightened sanctions on Iran's shadow‑fleet oil network.
- If activated, the plan would pause the conflict for a limited period and ease pressure on global oil flows, but it would leave core issues such as highly enriched uranium unresolved and dependent on later, deeper negotiations.