A tentative agreement between the U.S. and Iran has moved closer to a formal signing, according to diplomats and U.S. officials involved in the negotiations. The memorandum of understanding centers on three major elements: reopening the Strait of Hormuz, providing sanctions relief tied to Iranian compliance, and establishing a framework for addressing Iran's nuclear stockpile.
The text was reached after intensive talks on Wednesday night between Qatar's mediator Ali Al-Thawadi and Iranian Foreign Minister Abbas Araghchi in Tehran. Qatari and Pakistani mediators have been shepherding the negotiations, with the preliminary accord being called the Islamabad agreement if both sides finalize it.
As of Thursday evening, the agreement had been approved at senior levels within Iran's government, though it had not yet been cleared by Supreme Leader Mojtaba Khamenei, according to sources with direct knowledge. Iran's foreign ministry said the country had "not yet reached a final decision." Trump predicted a signing ceremony would happen over the weekend, and four U.S. Air Force C-17 cargo planes departed for Europe on Thursday, positioning equipment for a possible trip by Vice President Vance to Geneva in the coming days.
The core commitments from Iran center on its nuclear program. Tehran would pledge never to acquire a nuclear weapon and work to resolve the dispute over its enriched uranium stockpile. One mechanism under discussion involves down-blending Iran's highly enriched uranium inside the country under United Nations supervision, though any actual steps on the nuclear file would require a second, more detailed agreement that has not yet been negotiated.
On the Strait of Hormuz, the deal calls for immediate reopening without tolls, with shipping volumes returning to pre-war levels within 30 days. In exchange, the U.S. blockade would be lifted. Iran would receive temporary sanctions waivers allowing it to sell oil for 60 days, generating much-needed revenue. Additional sanctions relief would follow if Iran demonstrates compliance and "good faith" in later talks, though the diplomat emphasized there is no fixed timeline and relief would be phased in based on implementation of the agreement.
The broader ceasefire would extend for 60 days and cover Lebanon as well, creating a window for nuclear negotiations to proceed.
One significant unresolved issue involves billions of dollars in Iranian funds frozen overseas. Iran has demanded immediate access to at least some of those assets upon signing, while the U.S. has insisted funds be released in stages tied to performance. A U.S. source outside the administration raised concern that the issue might be handled through a secret side agreement, a claim a U.S. official denied. The parties have discussed a mechanism allowing Iran to access some of its frozen funds in Qatar specifically for purchasing humanitarian goods.
The diplomatic push forward follows weeks of false starts. The White House believed a deal was imminent multiple times over the past two months, only to see negotiations stall. The mediating diplomat expressed optimism this time the text would hold, though the process remained fluid as of late Thursday.
The news blindsided Israeli Prime Minister Benjamin Netanyahu, who found himself excluded from Trump's inner circle on the matter. Netanyahu reportedly called allies close to the administration in recent days trying to gather information about the developing agreement, according to a U.S. source with direct knowledge of his efforts.
Trump's envoys Steve Witkoff and Jared Kushner remained in direct contact with Qatari mediators throughout the Tehran negotiations, speaking by phone multiple times as the two sides worked through details.
Author James Rodriguez: "This deal still faces the gauntlet of final approvals from both capitals, but the infrastructure being assembled suggests real intent to close a historic agreement before Trump's term shifts the entire calculus."
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