Negotiators agree to extend U.S.-Iran ceasefire but await President Trump's final signoff

On Thursday, U.S. and Iranian officials reached a tentative 60-day memorandum of understanding to maintain their fragile ceasefire and launch new nuclear negotiations.

The proposed agreement aims to reopen the Strait of Hormuz, a vital global energy corridor that has been choked by hostilities and transit charges during the conflict. While Vice President JD Vance confirmed the sides are "very close," President Trump has signaled he will not rush the process or ease sanctions without ironclad nuclear guarantees. Internal friction remains high as some Republican hawks criticize the draft, while global oil prices dropped over 5% on news that a resolution may be in sight.

Both nations now wait for their respective leaders to either formalize the document or order a return to active combat operations.