Deal Between Iran and US Not Being Signed Today
Image: Collected.
In a post on Truth Social later on Saturday, US President Donald Trump wrote, "The Deal is scheduled to get signed tomorrow (Sunday), and immediately after it is signed, the Hormuz Strait is OPEN TO ALL."
He continued, "Hopefully, this process will all work out quickly, easily, and smoothly. If it doesn't, we have the ultimate alternative, hopefully never to be used again!"
The president also mentioned that the final deal includes, "A WALL TO NO NUCLEAR WEAPON!" and added, "In fact, they no longer want a Nuclear Weapon, nor will they have one, either through purchase, development, or any other form of procurement."
Iranian Foreign Minister Abbas Araghchi said on Friday in an interview with Iranian state media that he was hopeful a memorandum of understanding "could happen within the next one or two days, or within the next few days."
However, Iran's Foreign Ministry spokesman Esmail Baghaei said on Saturday, according to Iranian state media, that "it will not be tomorrow," without providing a reason for the apparent change. Baghaei stated that the "possibility of it being signed in the coming days cannot be ruled out."
"Due to the other side's inconsistency," Baghaei said, "we should remain cautious in making any statements about this process."
On Friday, Trump shared an X post from Araghchi on Truth Social, stating that the deal "has never been closer." He told Axios on Friday that he believed a deal with Iran could be signed by Monday, while condemning what he described as false information put out by Tehran regarding its contents.
For weeks, the US and Iran have appeared to be approaching a deal that would end a war that began when the US and Israel launched strikes on Iran at the end of February. Since then, Iran has imposed strict controls over the Strait of Hormuz, a vital waterway through which 20% of the world's oil passed before the war, causing turmoil in global markets.
A ceasefire agreement was reached in mid-April, but the two sides have since exchanged sporadic fire, with strikes escalating this week even as diplomacy moved forward slowly.
Oil prices fell below $90 a barrel on Friday morning after Trump said a peace deal was within reach. US crude oil futures for July delivery were at $84 per barrel early on Saturday, while August futures for international benchmark Brent sank to around $87 per barrel.
According to a regional source, a source familiar with the agreement, and a diplomat with knowledge of the text, the memorandum of understanding would immediately reopen the Strait of Hormuz without tolls and restore prewar shipping within approximately 30 days, as well as lift the US blockade of Iran's ports.
The agreement would include a 60-day extension of the current ceasefire, which effectively collapsed this week as both sides resumed strikes. The deal also includes an end to fighting in Lebanon, where Israel has continued a deadly offensive against Hezbollah despite existing ceasefire agreements.
But speaking on Iranian state television on Friday, Araghchi outlined seemingly different terms. (Source: NBC)