A memorandum of understanding between the United States and Iran aimed at halting the war in the Middle East could be signed by this coming Sunday. A Western official disclosed this information to the news agency Reuters on Friday. Geneva, Switzerland, is the leading candidate for the signing venue.
The official stated that work on finalizing the wording of the memorandum is still underway. Iran remains adamant that the ongoing conflict in Lebanon be included in the agreement.
The target is to finalize the text of the agreement by tomorrow, Saturday. US Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf are expected to sign the deal on behalf of their respective countries.
US President Donald Trump told reporters at the White House yesterday, Thursday, that he was calling off new attacks on Iran because the terms of the agreement had been finalized. In his words, “We have reached a major resolution regarding the war with Iran.”
Based on conversations with Iranian officials today, it appears that Tehran is securing most of its demands under the terms of the agreement.
Upon the signing of the deal, the Strait of Hormuz—crucial for global energy supplies—will be reopened. This appears to be the only achievement for Trump based on the terms of the potential agreement so far.
A senior Iranian official told Reuters today that the draft agreement would include the lifting of sanctions on Iranian oil, the release of billions of dollars in frozen assets, and a cessation of hostilities on all fronts, including Lebanon.
The initial agreement will not address the nuclear issue; that matter will be reserved for future discussions.
Washington wants to ensure that Iran never develops nuclear weapons, while Tehran has repeatedly maintained that it has no plans to produce such weapons.
Lifting sanctions, releasing frozen assets, and halting Israeli attacks in Lebanon are Iran’s primary demands. The aforementioned Iranian official did not specify what Tehran might offer Washington in exchange for these concessions. Meanwhile, there has been no immediate reaction from the US side regarding this matter. Iran’s news agency, Mehr News, reported that the United States has agreed to make concessions on additional matters as part of the agreement terms—such as withdrawing US troops from areas surrounding Iran and presenting a plan to rebuild Iran’s devastated economy.
The Mehr report stated that the United States and its allies would need to submit a plan worth at least $300 billion for Iran’s reconstruction.
