UNITED STATES PERSPECTIVE

Washington, May 30, 2026. The deal is on the table, but the presidential pen has not yet been lifted. US and Iranian negotiators have reached a 60-day memorandum of understanding (MOU) on extending the ceasefire and opening talks on Iran's nuclear program — but Donald Trump has given no formal approval. "The president has told mediators he wants a few days to think about it," a US official told Axios.

The vice presidency has tried to manage the wait. JD Vance, questioned Thursday evening, confirmed the existence of a provisional agreement while adding a telling caveat: "It's hard to say exactly when or if the president will sign." A nuance heavy with meaning, given that Secretary of State Marco Rubio had predicted "good news" just days earlier — a promise that went unfulfilled.

On Friday, Trump convened his advisors at the Situation Room to make a "final decision." The two-hour meeting ended without a statement. On Truth Social, the president laid out his conditions publicly: reopening the Strait of Hormuz with "unrestricted maritime traffic in both directions," no paid passage for Tehran, complete demining within 30 days, and Iran's commitment to "never possessing a nuclear weapon or bomb."

The economic stakes are high. The Strait of Hormuz is the transit route for approximately 20% of the world's energy supply. Since the start of the war, Iran has reduced commercial traffic to about 20 ships per day, down from over 100 before the conflict, while imposing transit fees. Treasury Secretary Scott Bessent said Thursday that oil prices could "drop rapidly" once the deal is finalized. The Treasury had also announced sanctions against the Iranian agency collecting these transit fees on Wednesday.

The Trump administration is juggling contradictory pressures. Hawks in Washington and Tehran are denouncing concessions deemed excessive. Iran, through Mohsen Rezaei, a top Revolutionary Guard official, accused Trump of "betraying diplomacy for the third time." Gulf allies and European mediators, meanwhile, are pushing for a quick conclusion, aware that each day of uncertainty prolongs market volatility.

The MOU text, as described by US officials, calls for the gradual lifting of the US naval blockade in proportion to the restoration of commercial traffic, as well as provisions on humanitarian corridors. Trump has also consulted with Qatar — a key mediator — and Emir Sheikh Tamim Al Thani. The deal, if signed, would not resolve the nuclear issue: it would create a 60-day framework to try to do so.