Iran’s Mehr News Agency reported a 14 point draft memorandum of understanding, citing a source close to Iran’s negotiating team. The proposal includes an immediate end to the war on all fronts, including Lebanon, and a US commitment to respect Iran’s sovereignty and avoid interference in its internal affairs.
The draft calls for the complete lifting of the naval blockade and the reopening of the Strait of Hormuz within 30 days under Iranian arrangements. It also proposes the withdrawal of US forces from areas around Iran.
Under the proposal, sanctions on Iran’s oil, petrochemical products and derivatives would be suspended. Iran would regain full access to its financial resources, while the US and its allies would present reconstruction plans worth at least $300 billion.
The agreement outlines 60 days of negotiations on nuclear issues, the lifting of primary and secondary US sanctions, and matters related to UN Security Council and IAEA resolutions. Iran would reaffirm its commitment under the NPT not to develop nuclear weapons.
During the 60 day talks, the US would not deploy additional forces in the region or impose new sanctions. The draft also proposes releasing $24 billion in frozen Iranian funds, with $12 billion available before negotiations officially begin.
A monitoring mechanism would be created to oversee implementation, with final approval through a UN Security Council resolution. The draft says final negotiations cannot begin until half of Iran’s frozen funds are released, oil sanctions are suspended and the naval blockade is lifted.
The proposed agreement would focus only on enriched nuclear materials, enrichment activities, sanctions relief and economic reconstruction. Iran’s missile program and support for resistance groups would be excluded from the negotiations. Iran’s Foreign Ministry spokesperson said the text still requires review and approval by relevant institutions.
Update: EKHBARIYA reports Iran demands a pact with the U.S. be signed in a European country for international status. A G7 official said the US and Iran could sign a memorandum of understanding as early as Sunday in Geneva.
U.S. stock index futures are trading higher, with Dow futures up 0.87%, S&P 500 futures gaining 0.67%, Nasdaq 100 futures rising 0.58%, and Russell 2000 futures leading with a 1.02% advance.
At the same time, U.S. Treasury yields are moving lower, while oil prices have dropped sharply. WTI crude futures are down 4.48% and Brent crude futures are down 4.55%, helping support risk appetite across equity futures markets.
US, Iran Move Closer to Hormuz Reopening Deal Ahead of G7 Summit
G7 officials say the US and Iran are moving toward an agreement that could reopen the Strait of Hormuz before next week’s G7 summit. An Iranian senior official has reportedly indicated a strong possibility of reaching a deal.
Officials said the agreement would likely be signed as a memorandum of understanding rather than a final treaty. The G7 summit will be held from June 15-17 in Évian-les-Bains, while Geneva has been proposed as a signing venue as early as Sunday. However, Iran has not yet confirmed it is ready to sign, and officials cautioned that talks remain ongoing.
Update: Fars News Agency said reports claiming a US-Iran agreement will be signed next Sunday in Geneva are completely false. The agency stated that President Trump’s claims and similar reports from some foreign media outlets are inaccurate and that no such final agreement has been reached.
BREAKING: Trump Rejects Iran Deal Claims, Warns Over Ship Attack
Donald Trump said the terms reportedly leaked by Iran do not match the written terms agreed during negotiations. He called Iran’s claims about a deal false and accused Tehran of not negotiating in good faith.
Trump also criticized what he described as a drone attack targeting Indian ships leaving the Strait of Hormuz, calling it “totally unacceptable.” He urged Iran to act quickly and warned that such actions could further damage trust between the two sides.
Update: Iran Says Islamabad MOU Not Yet Finalized
Iranian Foreign Minister Abbas Araghchi said the Islamabad Memorandum of Understanding has never been closer to completion, but stressed that it has not yet been finalized. He urged the media to avoid speculation about its contents and said full details will be made public at the appropriate time.
JD Vance Rejects Reports on Iran Deal
US Vice President JD Vance said Iran will not receive any cash payments and no funds are being released simply for signing a deal or attending talks. He said the agreement is designed to protect US and allied interests, while allowing economic benefits only if Iran meets its commitments.
Vance also criticized recent media reports and online speculation, saying many claims are based on unconfirmed information. He expressed confidence that President Trump will secure a positive outcome and said the deal could help bring long term stability and peace to the region.
Update: Pakistani Prime Minister Shehbaz Sharif says Pakistan is closer to a peace deal than ever. The Islamabad MOU is expected to be finalized within 24 hours and signed electronically, with technical talks next week. He thanked the United States and Iran for their role in the negotiations. He is confident the agreement will lay a strong foundation for lasting regional peace.
Update: Iran’s foreign ministry spokesman said the memorandum signing will not happen tomorrow. The agreement with Islamabad focuses on ending the current war phase and excludes nuclear issues. Tehran does not rule out signing within the next few days. Officials remain cautious about the date due to hesitation from the other party. Iranian media reported on the 13th that Baghaei, the Foreign Ministry spokesman, stated the Iran-US memorandum will not be signed tomorrow.
BBW News Desk is the editorial team of BigBreakingWire, a digital newsroom focused on global finance, markets, geopolitics, trade policy, and macroeconomic developments.
Our editors monitor government decisions, central bank actions, international trade movements, corporate activity, and economic indicators to deliver fast, fact-based reporting for investors, professionals, and informed readers.
The BBW News Desk operates under the editorial standards of BigBreakingWire, prioritizing accuracy, verified information, and timely updates on major global developments.
