The United States and Iran may be on the verge of a major diplomatic breakthrough, with Iranian Foreign Minister Abbas Araghchi saying a memorandum of understanding between the two countries is expected to be signed remotely in the coming days, without a formal ceremony in Geneva. Araghchi said most issues had been agreed upon between the parties, while Iranian Foreign Ministry spokesman Esmail Baghaei confirmed that there was a common understanding for most of the negotiations. However, tensions remain, with Donald Trump criticizing Iranian media for the way they presented the terms of the deal.
60-day ceasefire and changes in the Strait of Hormuz
The draft agreement provides for a 60-day period of technical negotiations and an immediate cessation of hostilities on several fronts, including Lebanon. It also includes the end of the US naval blockade and the reopening of the Strait of Hormuz. According to Araghchi, Iran will not return to the previous model of managing the sea passage, but is expected to apply “service fees” to ships using this strategic corridor, based on a joint statement with Oman.
In Washington, Vice President JD Vance has defended the deal, arguing that it safeguards American interests and could bring economic stability to the region if Tehran abides by its commitments. One of the most contentious issues remains Iran's nuclear program. Tehran proposes to dilute its stockpile of 60% enriched uranium to levels below 5%, while Washington demands the complete elimination of these stocks.
The draft has reportedly been approved by Iran's Supreme Leader and the National Security Council, but negotiations on a final deal are expected to continue during the 60-day period. Meanwhile, Israel is closely monitoring developments. Prime Minister Benjamin Netanyahu's office said he had a phone call with Donald Trump, who assured him that restrictions on Iran's nuclear program would be a non-negotiable condition for any final deal.
If the parties decide to move from a remote signing to a physical meeting in Geneva, the US delegation is expected to be led by JD Vance, while Iran will be represented by Parliament Speaker Mohammad Bagher Ghalibaf. A successful deal could also pave the way for the easing of sanctions on Iranian oil and banking transactions.
