U.S. and Iran Announce Deal, but the Real Terms Remain Unclear

The United States and Iran announced an agreement overnight between Sunday and Monday, but it has not yet been signed. According to the mediator, the signing is set for Friday in Switzerland, and only then are the deal’s steps supposed to take effect. Until then, the details remain unpublished, aside from competing leaks from both sides. One point both countries appear to accept is ending their “state of war” and opening at least 60 days of talks on Iran’s nuclear program and on U.S. concessions if Tehran agrees to stop it.

Tehran says the full memorandum will be released after the formal signing. Iranian officials claim Washington has agreed to halt sanctions on oil sales, present a reconstruction plan worth at least $300 billion, and release $24 billion in frozen funds. Iran also says the talks with the U.S. will only begin once Washington frees its frozen assets, a claim rejected by the Americans. Reportedly, Washington also agreed to drop discussion of Iran’s missile program and its support for proxy groups such as Hezbollah, the Houthis, and Hamas.

On the U.S. side, President Donald Trump focused on reopening the Strait of Hormuz, which Iran closed at the start of the war. He said the strait would open “freely and without tolls,” but Iranian outlets said traffic in the Gulf would be regulated by Iran in coordination with Oman. Trump initially said the U.S. naval blockade would end immediately, then changed course and said it would be lifted on Friday.

The next phase is meant to be 60 days of negotiations toward a final agreement, not just a ceasefire memorandum. Those talks are expected to address the nuclear issue and Washington’s demand that Iran’s highly enriched uranium be destroyed. U.S. officials said the deal would ultimately dismantle Iran’s nuclear program, while an Iranian official said the draft would allow Tehran to dilute its enriched uranium inside Iran. Iran also wants all sanctions and all UN Security Council and IAEA Board of Governors decisions lifted.

The agreement has also been linked to Lebanon. Pakistani and Iranian accounts say it includes an immediate ceasefire there. Iranian officials even claimed one condition for not responding with missiles to the Israeli strike in Beirut was an Israeli withdrawal from southern Lebanon, which Israel rejects. According to Israeli officials, Prime Minister Benjamin Netanyahu told Trump that Israel does not consider itself bound by any Lebanon clause, and that the IDF will stay where it is now and will not withdraw.