Overview
- Negotiators have prepared a tentative memorandum of understanding to extend the ceasefire for 60 days and reopen the Strait of Hormuz, but the text still awaits formal sign‑off by President Donald Trump and Iran’s leadership.
- President Trump held Situation Room meetings and said he would make a 'final determination' soon, though he left the decision unresolved after a multi‑hour meeting.
- Tehran publicly denied that a final agreement exists and said it will judge any deal by verifiable actions rather than by words, underscoring deep mutual mistrust that could unravel the draft.
- Kinetic exchanges have continued alongside diplomacy: U.S. forces reported shooting down multiple Iranian attack drones and striking a drone control site near Bandar Abbas while the IRGC claimed retaliatory missile and drone strikes that included an intercepted projectile toward Kuwait.
- The proposed pact ties mine removal, unrestricted shipping and possible sanctions waivers or frozen‑asset releases to technical talks on Iran’s large enriched‑uranium stockpile, a complex verification hurdle that mediators including Pakistan and the IAEA would need to manage and which will shape regional energy and market outcomes.