WASHINGTON (AP) — U.S. and Iranian negotiators reached a tentative agreement Thursday to extend theceasefirein the 3-month-old war by 60 days and start a new round of talkson Iran’s nuclear program, according to a U.S. official familiar with the matter.
Iran did not immediately confirm any deal, and the official noted that President Donald Trump has yet to sign off on it.
The emerging memorandum of understanding came as the fragile ceasefire inthe warbetween the U.S. and Iran appeared to be wavering. The latest flare-up in fighting happened less than a day earlier, when Kuwait intercepted missiles fired from Iran, according to U.S. Central Command.
The memorandum makes clear that Iran will not be able to impose tolls on theStrait of Hormuzand that Iran will have to remove all mines from the vital waterway within 30 days, according to the official, who was not authorized to comment publicly and spoke on condition of anonymity.
During the war, Iran has effectively closed the strait, which had been the conduit for about a fifth of the world’s traded oil and natural gas. Its closure has sent oil prices skyrocketing around the world. U.S. Treasury Secretary Scott Bessent predicted Thursday at a news briefing that the cost of oil could “come down very quickly” once a deal is finalized.
Iran has said it’s letting some commercial vessels pass — about two dozen daily in recent days, compared withmore than 100 a daybefore the war — but the Islamic Republic also hascharged tollsfor at least some ships. It set up a formalgatekeeper agencyearlier this month, spurringa new round of U.S. sanctionsthis week.
Under the tentative agreement, the U.S. would gradually lift its navalblockade on Iranian ports.The U.S. would also agree to relax sanctions, allowing Iran to sell more of its oil.
A second U.S. official, who also spoke on condition of anonymity to discuss the private diplomacy, said the broad outlines of an agreement have been reached but stressed that until Trump signs off on it, there is no deal. The official said there still are questions about whether Trump will accept the proposal.
Among the first issues to be negotiated during the 60-day ceasefire is what will happen to Iran’s highly enriched uranium, the first official said. The Islamic Republic has 440.9 kilograms (972 pounds) of uranium that is enriched up to 60% purity, a short, technical step from weapons-grade levels of 90%, according tothe International Atomic Energy Agency.
Iran has not publicly committed to giving up the stockpile. It is believed to buried under a trio of nuclear sites that were badly damaged by U.S. airstrikes last year.
Source: Fast Company
