U.S. and Iran near framework deal, but military threats and disagreements remain
U.S. Treasury Secretary Scott Bessent said on Thursday local time that the U.S. and Iran are close to reaching an agreement to end the fighting, but the deal has not yet been approved by President Trump, and the White House still wants the final version to meet several core conditions.
Bessent said at the White House: “We now have the basis for a deal.” He also said the two sides have been exchanging proposals, and “everything depends on the President’s decision.” Trump would never accept an agreement that harms U.S. interests.
Bessent said Iran must agree to dispose of highly enriched uranium, pledge never to develop nuclear weapons, and fully reopen navigation through the Strait of Hormuz. U.S. officials had previously said these points would be included in the memorandum of intent.
Earlier, a U.S. official said the two countries were close to a 60-day agreement, under which both sides would gradually lift the blockade in the Strait during the first 30 days. If finalized, it would be the first stage of a phased framework agreement.
The U.S. hopes to use the framework to force Iran to sharply scale back its nuclear program over the coming decades, including clearing out its stockpile of highly enriched uranium. Even if talks continue for at least two more months, the deal would almost certainly force the Trump administration to partially adjust its military objectives.
Iran's semi-official Tasnim news agency reported Thursday that Tehran said the final text had not yet been completed. Iran said that if a deal is reached, the main third-party mediator in the talks, Pakistan, would announce it publicly.
Iran is demanding several concessions: unfreezing overseas assets seized under U.S. sanctions, retaining management rights over the Strait of Hormuz—including whether to charge passing ships a transit fee—and ensuring the ceasefire also leads to a long-term truce in Lebanon.
Iranian officials fear that, under Israeli influence, Trump may tear up the deal. At a cabinet meeting on Wednesday, Trump said he would not sign any related agreement unless Arab states such as Saudi Arabia joined the Abraham Accords. Although the U.S. midterm elections are approaching in November, Trump also said he was in no rush to finalize a deal.
Trump has repeatedly threatened to fully resume military strikes if Iran refuses to sign, then later walked back those remarks several times. Bessent repeated that threat again on Thursday.
U.S. officials said Iran's Supreme Leader Mujtaba Khamenei had already approved the broad outline of the framework, though the final version still requires his formal approval. Iranian officials have also said recently that a deal is near, while admitting major differences remain.
The two sides previously fought for 39 days. Iran's military and senior leadership suffered heavy losses, and Iran also struck energy facilities in several Gulf countries and blocked the Strait of Hormuz, through which about one-fifth of the world's oil shipments pass.
Since early April, the U.S. and Iran have maintained a fragile ceasefire in hopes of ending the conflict entirely, but global energy prices have continued to rise, and Iran, the U.S., and the global economy have all taken clear hits. The two sides have clashed twice again this week. On Thursday, Iran fired a ballistic missile at Kuwait, which was successfully intercepted.
The framework sets out the following: within 30 days, both sides must lift mutual maritime blockades and pledge to stop hostilities; Iran would receive phased benefits, starting with the advantages of lifting the blockade in the Strait, and if a full nuclear deal is later reached, it would receive additional concessions. The framework would last 60 days and could be extended.
U.S. officials said that over the next two months, Washington would work through the agreement to gradually unfreeze Iranian funds and consider easing some sanctions. A senior Trump administration official said all such steps would depend on verifying strict Iranian compliance with the agreement's terms.
Bessent said the U.S. would continue its full-spectrum economic pressure campaign against Iran and announced sanctions against the body responsible for managing navigation in the Strait of Hormuz. He later warned that if Oman helps charge passing ships a transit fee, the U.S. will act against it as well.
If a full nuclear deal is eventually reached, sanctions relief for Iran could be broader than under the 2015 nuclear deal signed by former President Obama. That agreement lifted most secondary sanctions, but did not repeal core laws, and U.S. banks, companies, and individuals were still barred from doing business with Iran.
Some former U.S. officials and experts are skeptical that a detailed final nuclear deal will be reached. They believe Iran may not significantly shrink its nuclear program as the White House wants. That could leave Iran facing broad U.S. and international sanctions, while Washington and its allies remain uneasy about the size and pace of Iran's nuclear program.
At present, international inspectors can no longer enter most of Iran's key nuclear facilities to do their work. U.S. officials say the long delay in final approval is partly due to Iran's complex decision-making structure. In the past, on core matters like national security and diplomacy with the U.S., Iran's Supreme Leader was deeply involved in consultations and decisions. But Khamenei is reportedly now in hiding and cut off from much of Iran's top leadership, making his position difficult to convey and adding more uncertainty to the talks.
Iranian officials have repeatedly accused the White House of constantly changing the terms of the talks and launching military action during negotiations. The current talks are being advanced with Pakistan's mediation, while the U.S. also remains in contact with Israel and several Gulf allies.
