The US and Iran have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear program, but President Trump has not yet given it his final approval.
This was reported this evening (Thursday) by Barak Ravid, citing senior American officials.
The signing of the memorandum of understanding would be the most significant diplomatic breakthrough since the war began and would allow for direct talks between the US and Iran on a more comprehensive peace agreement.
According to the report, the deal was largely agreed upon between the negotiating teams on Tuesday, but both sides were required to receive approval from the senior leadership in Tehran and Washington.
But while the Iranians have told the mediators that they are ready to sign, President Trump has asked for a few days to think about it before making a final decision. "The president has conveyed a message to the mediators that he wants a few days to think about it before making a final decision," a senior US official said.
According to the Channel 12 report, the agreement that the US and Iran are close to signing includes a 60-day extension of the ceasefire, during which the Strait of Hormuz will be reopened, Iran will be able to sell oil freely, and negotiations will be held on limiting Iran's nuclear program.
The US official acknowledged that this would provide an advantage to Iran's economy, but said it would also provide significant relief to the global oil market.
The American official said that Trump's key principle in the agreement is "concessions for performance.".
Iran wanted frozen funds to be immediately unfrozen and for the US to immediately and permanently lift all sanctions, but the American side said this would only happen after tangible concessions from Iran regarding its nuclear program.
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