US and Iran both suggest progress has been made, but that doesn’t mean agreement will be reached
Iran has published details of a draft memorandum of understanding with the United States that would require American forces to withdraw from Iranian territory and commit Washington to lifting oil sanctions, as both sides moved closer to ending three months of conflict.
Iranian state media reported Friday that the 14-point document sets out conditions under which final negotiations could begin, including the release of half of Iran's frozen funds, the suspension of oil sanctions against Tehran, and an end to the US naval blockade that has choked off Iranian oil revenues since the ceasefire in early April.
The draft also requires the US and its allies to present reconstruction plans for Iran worth at least $300 billion, according to a report by the Mehr News Agency cited by CNBC. Iran has separately committed to reopening the Strait of Hormuz within 30 days under the terms outlined. The White House had not commented on the reported terms at the time of publication.
President Donald Trump claimed Thursday that the US had "just made a great settlement of the war with Iran," subject to the "finalization of documents," and said the Strait of Hormuz would be reopened as soon as an agreement is signed, the Wall Street Journal reported.
Trump later suggested Vice President JD Vance could travel to Europe for a signing ceremony as early as this weekend, although officials in Tehran were more cautious and said that a final conclusion was not yet agreed.
Qatar, which has acted as mediator throughout the talks, said its efforts had "led to progress in the proposals under discussion within the framework of ongoing negotiations," with a delegation having returned from Tehran earlier Thursday carrying new language for the draft under discussion, the Journal reported.
Israel is not part of the negotiations. This article reflects the latest as of 5am ET on June 12.
