U.S. and Iran are closing in on a 60-day ceasefire extension with nuclear framework, FT reports

Mediators believe they are nearing a deal to extend the U.S. ceasefire with Iran by 60 days and establish a framework for nuclear talks, the Financial Times reported Saturday, citing people briefed on the negotiations. The agreement would include a gradual reopening of the Strait of Hormuz, a commitment to discuss Iran’s stockpile of enriched uranium, eased sanctions, and the phased unfreezing of Tehran’s overseas assets, the FT reported. Iran’s foreign ministry spokesman said Tehran is finalizing a “memorandum of understanding” to end the war as a first phase, before moving to broader talks within 30 to 60 days. “The deal seems to be going in the right direction. It’s with the Americans now for review,” a diplomat briefed on the talks told the FT. U.S. President Donald Trump said he is “getting a lot closer” to an agreement with Iran, CBS News reported Saturday. He is holding a call on Saturday to discuss the draft deal with Arab leaders and could make a decision Sunday, Axios reported. There has been a fragile ceasefire in place since April 8, punctuated by skirmishes as the U.S. and Iran jockey over the Strait of Hormuz, a key passage for global energy trade. The conflict has set off what Gulf states called the worst global energy crisis in decades, with higher energy prices in the U.S. feeding rising inflation and expectations that the Federal Reserve may need to increase interest rates.