The deal would avoid an escalation of the war and decrease the pressure on the global oil supply. However, it’s unclear whether it will lead to a lasting peace agreement that also addresses President Trump’s nuclear demands, said Axios report.
Both Trump and the mediators have indicated the deal could be announced on Sunday, though it has not been finalized and could still fall apart.
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What’s in the deal?
As per Axios, both sides would sign a memorandum of understanding (MOU) that would last 60 days and could be extended by mutual consent. During the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely.
In exchange, the U.S. would lift its blockade on Iranian ports and issue some sanctions waivers to allow Iran to sell oil freely.
An official quoted by Axios said Trump’s key principle in the agreement is “relief for performance.” Iran wanted funds unfrozen immediately and permanent sanctions relief, but the US side said that would only happen after tangible concessions were made, according to the official.The draft MOU includes commitments from Iran to never pursue nuclear weapons and to negotiate over a suspension of its uranium enrichment program and the removal of its stockpile of highly enriched uranium, the US official said.
“According to two sources with knowledge, Iran gave the U.S. through the mediators verbal commitments about the scope of the concessions it’s willing to make on suspending enrichment and giving up the nuclear material,” Axios report stated.
The US would agree to negotiate over lifting sanctions and unfreezing Iranian funds during the 60-day period — though those steps would only be implemented as part of a final agreement that is verifiably implemented.
U.S. forces that were mobilised in recent months would stay in the region during the 60-day period and only withdraw if a final deal is reached.
The draft MOU also makes clear that the war between Israel and Hezbollah in Lebanon would end.
How it happened
President Trump sounded out several Arab and Muslim leaders about the deal in a conference call on Saturday, and all said they support it, three sources familiar with the call told Axios.
That included the UAE’s hawkish president, Mohammed bin Zayed, according to the U.S. official. Also on the call were the leaders of Saudi Arabia, Qatar, Egypt, Turkey and Pakistan, all of which have been involved in the mediation efforts.
The Pakistanis have been the primary mediator, led by Field Marshal Asim Munir, who was in Tehran on Friday and Saturday in an effort to get the deal across the line.
