Overview
- Senior U.S. officials and Iranian negotiators said on Friday that an initial memorandum is close but has not been signed and key language remains unresolved.
- Iranian state media published a leaked draft that would lift oil sanctions, reopen the Strait of Hormuz under Iranian arrangements, and release roughly $24 billion in frozen assets during a 60-day follow-up period.
- The White House rejected Tehran’s version and described a performance‑based plan that would require Iran’s enriched uranium stockpile to be removed or destroyed and withhold funds until verification.
- Pakistan and Qatar have played active mediation roles in shuttle diplomacy and officials suggested a signing could occur in Europe in the coming days if outstanding disputes are settled.
- Markets reacted to the prospect of a deal with stocks up and oil prices down, but analysts warn that open questions on nuclear verification, funds custody and regional security mean the pause is fragile.