The United States and Iran have reportedly reached a preliminary understanding, with a memorandum expected to be signed on Sunday. The proposed agreement could ease regional tensions and revive diplomatic engagement between the longtime rivals. The development may affect global energy markets, regional security, and ongoing nuclear negotiations.
According to a Bloomberg report, the memorandum could be signed before the G7 summit begins in Geneva next week. Reports suggest both sides have agreed to reopen the Strait of Hormuz and implement a 60-day ceasefire. During the truce, negotiations on Iran’s nuclear programme would continue while fighting pauses across all fronts.
Furthermore, reports indicate that sanctions relief would depend on Iran taking agreed practical steps. Iranian media said the draft understanding includes provisions for lifting sanctions and restoring frozen Iranian assets. The reports also claim restrictions on Iranian oil exports could be removed under the proposed arrangement.
In addition, Iranian media stated that the agreement calls for ending Iran’s blockade in the Gulf of Oman. The reported framework also includes the withdrawal of US forces from areas surrounding Iran. However, the reports suggest Iran’s missile programme will remain outside the scope of negotiations.
Meanwhile, US President Donald Trump recently said documents for a deal were in the final stages. He expressed confidence that Iran’s supreme leadership had approved the agreement. However, Iran’s Foreign Ministry said no final decision had been reached. Spokesman Esmaeil Baghaei stated that talks were continuing and Iran would not compromise on its red lines.