The latest development toward halting more than two months of fighting between the United States and Iran could come down to a one-page memo.
Axiosreported on Wednesday that negotiators are closing in on the bare outlines of a deal to end the current round of combat that kicked off withOperation Epic Furyon Feb. 28.
And the world’s oil markets responded immediately.
EXCLUSIVE: The White House believes it’s getting close to an agreement with Iran on a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiationshttps://t.co/unlfOhVaBB
“Nothing has been agreed yet, but the sources said this was the closest the parties had been to an agreement since the war began,” Axios reported.
According to the report, the U.S. side is pushing a 14-point agreement that requires Iran to agree to never develop a nuclear weapon, put a moratorium on nuclear enrichment programs, and agree to stronger international inspections of its facilities.
In return, the U.S. would gradually lift sanctions on the Islamic nation and allow the release of frozen Iranian funds.
News of the potential breakthrough spurred an immediate decline of oil prices on the global market, according toNBC News.
“Markets had reacted swiftly to the initial report, sending the price of U.S. crude oil plunging by as much as 15% to $88 per barrel and international Brent crude oil down as much as 11% to $96 per barrel,” the outlet reported.
Speaking to reporters during the White House press briefing on Tuesday, Secretary of State Marco Rubio —who’s no neophytewhen it comes to Iran — delivered a message of optimism that a settlement is within reach while acknowledging the difficulties that are in the way.
Source: VidNews » Feed
