Overview
- Negotiators produced a preliminary memorandum that would extend the current ceasefire for 60 days and restart navigation through the Strait of Hormuz, but the text has not been formally approved by the United States or accepted as final by Iran.
- President Donald Trump convened a Situation Room meeting to make a final decision and publicly listed strict conditions on his Truth Social account, yet U.S. officials say the meeting ended without his approval.
- Tehran and state‑linked outlets denied a finalized deal and disputed key Washington claims about nuclear concessions and an unconditional reopening of the Strait.
- Military operations continued during the talks with U.S. Central Command reporting drone shootdowns and strikes on a control station while other incidents, including attacks on vessels, kept the ceasefire fragile.
- Markets reacted to the negotiation signals with oil prices falling on deal speculation and investors watching whether the pause will secure frozen Iranian assets, sanctions relief and IAEA oversight needed for a lasting settlement.