What we know so far about the US-Iran deal
US President Donald Trump has indicated that a potential deal between the US and Iran is “largely negotiated”. If agreed, it could bring to an end a regional conflict which has lasted almost three months.
Markets were upbeat about the prospect of a deal on Monday morning, with Brent crude oil prices dropping nearly 6 percent to $97 a barrel.
The full terms of the deal are not public, but here’s what we know so far:
What will the deal entail?
Tehran and Washington are close to signing a deal that would begin with a 60-day ceasefire extension, according to a US official cited by Axios.
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During that time, the Strait of Hormuz - the narrow waterway through which a fifth of the world’s crude oil and liquified natural gas travels - would be reopened.
There would be no tolls to pass through the strait, and Iran would clear the mines it has laid near the waterway.
Once those mines are cleared, the US would lift its own blockade on Iranian ports which have been in place in recent weeks.
Iran would also be permitted to sell oil during those two months, temporarily circumventing US sanctions. The American official told Axios that while this would benefit Iran’s economy, it would also ease pressure on global oil markets.
The two sides would then use the time to negotiate over Iran’s nuclear programme.
As part of the wider talks on a permanent ceasefire, Iran wants its assets around the world to be unfrozen immediately, as well as permanent sanctions relief.
The US official said such concessions would only be made if Tehran made “tangible concessions”.
What about Iran’s nuclear programme?
Sources told Axios that a draft of the memorandum of understanding between the two - which is yet to be agreed - included a commitment from Iran never to pursue nuclear weapons.
There’s no evidence that Tehran has agreed to such a stipulation.
The draft also suggests that Iran would negotiate over suspending its uranium enrichment and over the removal of its existing stockpile of highly enriched uranium.
A US official told the Washington Post that the next two months would be spent discussing “the mechanism” for such a nuclear deal.
An Iranian official told the Post that the draft deal did not include a nuclear agreement, but rather a commitment to negotiate the nuclear issue at a later time.
How has Trump responded?
Over the weekend, Trump faced criticism from US lawmakers on both sides of the political divide about the deal, and the war itself.
He responded by stating that he does not make bad deals.
“If I make a deal with Iran, it will be a good and proper one, not like the one made by Obama,” Trump wrote on Truth Social.
“Don’t listen to the losers, who are critical about something they know nothing about. Unlike those before me who should have solved this problem many years ago, I don’t make bad deals!”
Later on Monday, he said that negotiations were “proceeding nicely”, and added that he wanted more countries to join the Abraham Accords.
Trump listed countries whose leaders he said he spoke with on Saturday about efforts to end the war on Iran.
“After all the work done by the United States to try and pull this very complex puzzle together, it should be mandatory that all of these Countries, at a minimum, simultaneously, sign onto the Abraham Accords,” he said.
“Those Countries discussed are Saudi Arabia, The United Arab Emirates (already a Member!), Qatar, Pakistan, Turkiye, Egypt, Jordan, and Bahrain (already a Member!)”
The Abraham Accords refer to normalisation deals with Israel brokered by Trump during his first term in 2020. They were signed by the UAE, Bahrain, Morocco and Sudan.
Two of the countries mentioned by Trump, Jordan and Egypt, already have relations with Israel.
What did Iran say?
Iran’s foreign ministry spokesperson Esmaeil Baghaei said on Monday that Tehran and Washington have reached conclusions on several issues discussed as part of the potential memorandum of understanding.
However, he stressed that this should not be interpreted as meaning that Iran is close to signing any agreement.
Baghaei said Iran’s current negotiations are focused on ending the war, not on nuclear issues.
He also repeated Tehran’s concern that shifting positions among US officials continue to complicate efforts to reach a deal.
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