The US and Iran have agreed to a tentative 60-day memorandum of understanding (MOU) to extend the ceasefire between the two countries in the Middle East, as well as launch further negotiations between the two countries over Iran's nuclear program.
However, President Donald Trump still has to sign off on anything final. According to Axios, US officials said that the MOU will say that shipping through the Strait of Hormuz will be “unrestricted.”
“This is an agreement to get everybody to the table. We will work out the details in the negotiations," a US official told the outlet.
Trump as well as those in negotiations have closed in on a deal with the Iranians multiple times earlier in the conflict, but they have repeatedly stalled. Additionally, this week there was a report from Iranian state media that a deal had been reached.
Crude oil prices dropped from $107 to $89 with the report being released in Iran. However, it has not been officially confirmed.
On Wednesday, Trump said that Iran was "negotiating on fumes" and that a deal has not been reached.
"So far they haven't gotten there. We're not satisfied with it, but we will be, we will be. Either that or we'll have to just finish the job," Trump said at the time. The sticking point with the negotiations has been Iran's nuclear program.
Trump has made it clear that the aims of the conflict have been to eliminate Iran's capabilities of ever producing or obtaining a nuclear weapon.
"Iran cannot have a nuclear weapon," he said on Wednesday, adding, "with Operation Epic Fury, our warriors are ensuring that the world's number one state sponsor of terror never obtains a nuclear weapon. And they won't."
Iran, on the other hand, has called the issue their "red line."
However, President Donald Trump still has to sign off on anything final. According to Axios, US officials said that the MOU will say that shipping through the Strait of Hormuz will be “unrestricted.”
“This is an agreement to get everybody to the table. We will work out the details in the negotiations," a US official told the outlet.
Trump as well as those in negotiations have closed in on a deal with the Iranians multiple times earlier in the conflict, but they have repeatedly stalled. Additionally, this week there was a report from Iranian state media that a deal had been reached.
Crude oil prices dropped from $107 to $89 with the report being released in Iran. However, it has not been officially confirmed.
On Wednesday, Trump said that Iran was "negotiating on fumes" and that a deal has not been reached.
"So far they haven't gotten there. We're not satisfied with it, but we will be, we will be. Either that or we'll have to just finish the job," Trump said at the time. The sticking point with the negotiations has been Iran's nuclear program.
Trump has made it clear that the aims of the conflict have been to eliminate Iran's capabilities of ever producing or obtaining a nuclear weapon.
"Iran cannot have a nuclear weapon," he said on Wednesday, adding, "with Operation Epic Fury, our warriors are ensuring that the world's number one state sponsor of terror never obtains a nuclear weapon. And they won't."
Iran, on the other hand, has called the issue their "red line."
