The United States and Iran are moving toward a temporary deal to end their war, sources and officials said Thursday.
According to Reuters news agency, Iran’s Foreign Ministry spokesman said Tehran had not yet reached any conclusion on the emerging plan, which sources said is focused on a short-term memorandum rather than a comprehensive peace deal.
On hopes that even a partial deal could reopen the Strait of Hormuz, the market has already turned a corner, with oil prices sliding again on conditions that supply disruptions can be eased and global stocks largely remaining at record highs.
Tehran and Washington have scaled back ambitions for a comprehensive settlement as differences persist, particularly over Iran’s nuclear program – including the fate of its highly enriched uranium reserves and how long Tehran will halt nuclear work.
Instead, they are working toward a temporary arrangement set out in a one-page memorandum aimed at preventing a return to conflict and stabilizing shipping through the strait, sources and officials said.
“Our priority is that they declare a permanent end to the war and come back to direct talks so that the remaining issues can be resolved,” a senior Pakistani official involved in mediation between the two sides told Reuters.
According to sources and officials, the proposed framework would unfold in three stages: formally ending the war, resolving the crisis in the Strait of Hormuz and launching a 30-day window to negotiate a comprehensive agreement.
Tehran said Foreign Minister Abbas Araqchi spoke by phone on Thursday with his counterpart in Pakistan Ishaq Dar, who has played a leading role in mediation efforts.
“We remain optimistic,” Pakistan Foreign Ministry spokesman Tahir Andrabi said at a briefing in Islamabad when asked how soon an agreement could be reached.
“A simple answer would be that we expect an agreement sooner rather than later. -Reuters
