President Donald Trump said a US-Iran memorandum of understanding (MOU) could be signed by Friday, signaling that negotiations to ease tensions in the Middle East are moving closer to completion.
Speaking at the G7 summit, Trump said the agreement could be finalized within days and would focus on reopening the Strait of Hormuz, one of the world’s most important oil shipping routes. The president added that the deal could help restore stability to global energy markets after months of disruption.
The proposed agreement is expected to create a framework for broader negotiations, including discussions on Iran’s nuclear program, sanctions, and regional security. However, several key issues, including the scope of sanctions relief and implementation details, are still being negotiated.
Markets have been closely following the talks because any progress could help increase oil exports from the region and reduce concerns over global supply disruptions. Expectations of an eventual reopening of the Strait of Hormuz have already contributed to lower crude prices in recent days.
While Trump expressed confidence that a deal is near, officials from both countries have yet to release the final agreement, leaving investors focused on whether negotiations can successfully move from a preliminary framework to a formal accord.
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