U.S. And Iran Negotiators Reach Tentative 60-Day Ceasefire Extension, Start Nuclear Talks

U.S. and Iranian negotiators reached a tentative agreement to extend the ceasefire in the three-month-old war by 60 days and start new nuclear talks, according to an AP report citing a U.S. official familiar with the matter.

“The United States and Iran have reached a preliminary memorandum of understanding (MOU) to extend the ceasefire between the two countries for 60 days and start negotiations for permanently ending the war, according to officials”

Al Jazeera

Vice President JD Vance confirmed on Thursday evening that there was a tentative agreement but said, “It’s hard to say exactly when or if the president’s going to sign,” while adding, “We’re going back and forth on a couple of language points.”

Al Jazeera

The emerging memorandum of understanding makes clear that Iran will not be able to impose tolls on the Strait of Hormuz and that Iran will have to remove all mines from the vital waterway within 30 days, according to the AP official.

The AP report also said the U.S. would gradually lift its naval blockade on Iranian ports and relax sanctions to allow Iran to sell more of its oil, even as the U.S. Treasury Department imposed additional sanctions on the Iranian military’s oil sales arm.

On the nuclear issue, the AP report said negotiators would address what will happen to Iran’s highly enriched uranium, including the Islamic Republic’s 440.9 kilograms (972 pounds) of uranium enriched up to 60% purity, with Vance framing the talks as involving “the highly enriched stockpile” and “the question of enrichment.”

The BBC reported that Vance told it the U.S. and Iran were “very close” to a deal but “not there yet,” with Vance saying it was too early to say “when or if” President Donald Trump would finalise an agreement.

The BBC said U.S. officials told it the two countries had agreed a framework of a deal known as a memorandum of understanding, reportedly extending the ceasefire for 60 days and launching talks on Iran’s nuclear programme, while Iran’s Tasnim news agency said it had not been finalised or confirmed.

Al-Monitor

Speaking in Washington DC, Vance said negotiators were “going back and forth on a couple of language points,” including the “question of enrichment,” and added, “We’re not there yet, but we’re very close and we’re going to keep on working at it.”

The BBC also described the reported framework as allowing “unrestricted” passage through the Strait of Hormuz and giving Iran 30 days to remove mines from the narrow shipping passageway, while the U.S. would lift its blockade and issue sanction waivers to allow Iran to resume selling oil.

Separately, the BBC said the White House called a purported draft memorandum a “complete fabrication,” and it noted that both countries accused each other of violating the fragile ceasefire in the past few days.

As the tentative U.S.-Iran ceasefire extension circulated, CNBC reported that oil futures fell more than 1% on Friday, with Brent crude futures for July down more than 1% to $92.23 a barrel by 7:57 a.m. ET and U.S. oil futures down more than 1% to $87.69 a barrel.

“US and Iranian negotiators reach tentative deal to extend ceasefire and start new nuclear talks US and Iranian negotiators reach tentative deal to extend ceasefire and start new nuclear talks WASHINGTON (AP) — U”

AP News

CNBC said the reports involved an agreement to extend a ceasefire and lift restrictions on shipping through the Strait of Hormuz, while noting that Trump had yet to approve it and Iranian state media said it had not been finalised.

The Hill reported that if approved the agreement would reopen the Strait of Hormuz to international shipping traffic and restore “unrestricted” transit, with Iran pledging not to impose tolls on ships attempting to pass through the waterway and Tehran required to remove all its mines from the strait within 30 days.

The Hill also said the U.S. would gradually lift its naval blockade in exchange for Iran loosening its grip on the strait and issue sanctions waivers to allow Tehran to resume selling its oil, while Treasury Secretary Scott Bessent told reporters there would be no sanctions relief until “Iranians agree that they have to turn over the highly enriched uranium.”

Meanwhile, Reuters-cited reporting in the AP story said even as word of the potential deal emerged, the U.S. Treasury Department imposed additional sanctions on the Iranian military’s oil sales arm, extending the Trump administration’s economic pressure campaign on the Islamic Republic.