US, Iran close to deal but differences remain; Trump reiterates military threats
Treasury Secretary Scott Bessent said the United States and Iran are close to reaching an agreement to end hostilities, but President Trump has not yet approved it, and the White House wants the final deal to meet several core conditions.
Bessent said the two sides have the basis for a deal and have been exchanging proposals. He stressed that everything depends on the president's decision and that Trump will not accept an agreement that harms U.S. interests.
Under the U.S. terms, Iran would need to agree to dispose of enriched uranium, pledge never to develop nuclear weapons, and fully reopen the Strait of Hormuz for navigation. U.S. officials had earlier revealed that relevant content would be included in a memorandum of intent.
U.S. officials said the two countries may first reach a 60-day framework agreement, with the blockade of the strait gradually lifted within the first 30 days. This would be the first step of a phased deal, and Washington hopes to use it to push Iran to dramatically scale back its nuclear program over the coming decades.
Iran's semi-official Tasnim news agency reported that Tehran said the final text of the agreement has not yet been completed and that, if a deal is reached, it will be announced by Pakistan, a key third party. Iran also demanded that its overseas assets frozen due to U.S. sanctions be unfrozen, that it retain management rights over the Strait of Hormuz, and that a ceasefire bring long-term easing of the situation in Lebanon.
Iranian officials fear Trump may tear up the deal under Israeli influence. Trump said at a Cabinet meeting Wednesday that he would not sign any agreement unless Saudi Arabia and other Arab states join the Abraham Accords. Despite the approaching U.S. midterm elections in November, he said he is not in a hurry to finalize it.
Trump has repeatedly threatened to launch a full-scale military strike if Iran refuses to sign, only to later walk back his statements. Bessent reiterated that threat again on Thursday.
U.S. officials said Iran's Supreme Leader Mojtaba Khamenei has endorsed the general framework of the agreement, but the final plan still needs his formal approval. Iranian officials have also acknowledged remaining differences but said a deal is within reach.
The two countries had previously engaged in a 39-day conflict that severely damaged Iran's military and leadership. Iran also attacked energy facilities in several Gulf states and blocked the Strait of Hormuz. The strait carries about one-fifth of global oil shipments, and shifts in the situation continue to affect international energy prices and the global economy.
This week, the U.S. and Iran clashed again twice; on Thursday, Iran fired a ballistic missile at Kuwait, which was later intercepted. U.S. officials said that over the next two months, Washington will gradually unfreeze Iranian funds under the agreement and consider easing some sanctions, provided Iran strictly adheres to the terms.
Bessent also said the U.S. will continue its comprehensive economic pressure on Iran and announced sanctions on entities responsible for managing navigation in the Strait of Hormuz. If Oman assists in collecting tolls from passing vessels, the U.S. will also take action.
Analysts noted that if a comprehensive nuclear deal is ultimately reached, the easing of sanctions on Iran could be greater than under the 2015 nuclear deal. However, some former officials and experts are skeptical about a detailed final agreement, believing Iran may not significantly reduce its nuclear program as demanded by the White House. International inspectors currently have no access to most of Iran's key nuclear facilities.
U.S. officials said Iran's complex decision-making system remains a major obstacle to the deal, while Tehran accuses the White House of constantly changing conditions and taking military action during negotiations. The talks are being mediated by Pakistan, and the U.S. is also communicating with Israel and several Gulf states.
