Memorandum of understanding between the United States and Iran is expected to be signed on Sunday, according to reports.
According to a report by Bloomberg, the G7 summit is set to begin in the Swiss city of Geneva on Monday, and the United States and Iran could sign the memorandum before the summit convenes.
Earlier, US media claimed that a preliminary understanding had been reached between the two countries. According to the report, both sides agreed to immediately reopen the Strait of Hormuz and implement a 60-day ceasefire.
Any easing of sanctions would be conditional on practical steps taken by Iran, while negotiations regarding Iran’s nuclear program would continue during the ceasefire period. The ceasefire would apply across all fronts.
According to Iranian media, the memorandum includes provisions for the lifting of sanctions, the withdrawal of US troops from areas surrounding Iran, the end of Iran’s blockade in the Gulf of Oman, and the reopening of the Strait of Hormuz.
The report further stated that sanctions on Iranian oil would be removed and Iran’s frozen assets would be restored. Final negotiations would focus on the nuclear program and economic issues, while Iran’s missile program would not be part of the talks.
Earlier, US President Donald Trump said that documents related to an agreement with Iran were in the final stages and that a deal could be signed by the end of the week.
Trump also stated that the Strait of Hormuz would be reopened within a week of the agreement and expressed confidence that Iran’s Supreme Leader had already approved the deal. He added that the naval blockade on Iran would remain in place until a formal agreement is reached.
Meanwhile, Iran’s Foreign Ministry responded to Trump’s remarks by saying that no final decision had yet been made regarding an agreement with the United States. Diplomatic contacts are continuing, but no settlement has been finalized.
Foreign Ministry spokesperson Esmaeil Baghaei said that while large portions of the text had been finalized, Iran would not compromise on its red lines and no final conclusion had yet been reached.
Also Read: US forces strike Indian tanker M/T Jalveer in the Gulf of Oman
