U.S.-Iran Ceasefire Extension Nears as Nuclear Framework Takes Shape
CNBC reported Saturday that an Iran ceasefire extension of 60 days is within striking distance, with mediators increasingly confident a deal could be sealed within days.
The proposed agreement, first reported by the Financial Times, would pause hostilities for two months and establish a framework for broader nuclear negotiations. It would also include a phased reopening of the Strait of Hormuz and a commitment to discuss Tehran’s stockpile of highly enriched uranium. Eased sanctions and the gradual unfreezing of Iranian overseas assets are also reportedly on the table.
Talks Advance as Sunday Decision Looms
President Donald Trump said publicly he is moving closer to an agreement, telling reporters the U.S. had held off renewed strikes this week to allow diplomacy to proceed. Axios separately reported that Trump could announce a decision as early as Sunday after consulting Arab leaders on a call Saturday.
A diplomat briefed on negotiations told the FT the deal appears to be moving in the right direction and is now with Washington for review. Iran’s foreign ministry spokesman described the emerging text as a “memorandum of understanding” intended as a first phase, with broader talks to follow within 30 to 60 days.
Background: A Conflict Roiling Global Energy Markets
Fighting began on February 28 when the U.S. and Israel launched strikes against Iran. A fragile ceasefire has held since April 8, though skirmishes have continued around the Strait of Hormuz, the chokepoint through which a significant share of global oil transits. Gulf states have described the resulting energy disruption as the worst crisis in decades. Higher fuel prices have fed inflation in the United States, raising expectations that the Federal Reserve may be forced to lift interest rates again.
Pakistani and Qatari envoys held talks with Iranian officials Thursday and Friday, maintaining parallel contact with U.S. special envoy Steve Witkoff. Saudi Arabia, Qatar and the UAE have all pressed Washington to suspend its military campaign, warning that further escalation risks broader regional destabilisation.
Key Sticking Points Remain
Despite the progress, fundamental gaps persist. Trump has demanded Iran permanently surrender its nuclear weapons capacity and dismantle the Natanz, Fordow and Isfahan enrichment sites, all of which were struck by U.S. forces last June. Iran’s top negotiator signalled this week that Tehran will not yield on what it calls its “legitimate rights,” and its foreign ministry acknowledged the two sides remain simultaneously “very far and very close” to a deal.
Iran’s Parliament Speaker Mohammad Baqer Qalibaf added that the country’s armed forces have substantially rebuilt capabilities degraded since the conflict began in late February.
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