Details began to emerge Tuesday of an interim agreement between the United States and Iran aimed at extending a fragile Middle East ceasefire and laying the groundwork for broader negotiations on Tehran’s nuclear program and regional tensions, officials said.
President Donald Trump said the framework explicitly rules out Iran acquiring a nuclear weapon, while a senior U.S. official said the deal would also allow Tehran to resume oil exports immediately upon signing, including access to banking, transport and insurance services to facilitate sales.
The interim accord is expected to extend a ceasefire announced in April by an additional 60 days and reopen the Strait of Hormuz, a vital global energy corridor that Iran has effectively restricted since U.S. and Israeli strikes in February, according to officials familiar with the talks.
Speaking at the G7 summit in France, Trump said the agreement’s text makes clear that Iran “will not have a nuclear weapon” and added that he expects the full document to be released publicly in the coming days. He also said he supports sending the deal to Congress for review, echoing demands from some Republican lawmakers.
A senior U.S. official, speaking on condition of anonymity, said Iran would be permitted to begin selling oil and fuel immediately, but only if it complies with agreed conditions.
“Iran can only access any benefits of the MOU if they abide by all of the points they agreed to – including no nuclear weapon, neutralizing its enriched material, and not interfering with the free flow of navigation in the Strait of Hormuz,” the official said.
Negotiations on more complex issues, including Iran’s nuclear enrichment program, are expected to resume in Switzerland on Friday after formal signing of the framework agreement, Iranian Foreign Minister Abbas Araqchi said. The next phase is also expected to address verification mechanisms and long-term compliance.
However, key regional disputes, including Iran’s support for allied armed groups and its ballistic missile program, are not expected to be part of the upcoming talks, according to officials involved in the process.
“Iran wants to get it done,” Trump told reporters, adding that normalization efforts were underway and suggesting negotiations could proceed quickly. He described the arrangement as “a wall to a nuclear weapon,” contrasting it with the 2015 agreement brokered under former President Barack Obama, which he criticized.
Vice President JD Vance and Iranian top negotiator Mohammad Baqer Qalibaf are expected to attend the formal signing ceremony.
Markets reacted swiftly, with oil prices falling more than 2% on Tuesday to fresh three-month lows after dropping nearly 5% a day earlier on news of the deal. Industry officials, however, cautioned that a full recovery in Middle East energy output could take months.
Iranian President Masoud Pezeshkian called the agreement an “important step” toward ending hostilities but said a comprehensive peace settlement “has yet to take shape.” Vance, in an interview with CNN, described the memorandum as a “very general document.”
The accord comes amid continued political risks in both countries following a conflict that has killed thousands and destabilized global energy markets. It also exposes Trump to criticism from within his own party, while Iranian authorities face potential domestic unrest if economic relief fails to materialize.
U.S. officials said the agreement could eventually unlock significant economic benefits for Iran, including sanctions relief and access to frozen assets, and may lead to the establishment of a $300 billion reconstruction fund supported by Gulf states.
However, officials stressed that Iran must meet strict conditions, including ending its nuclear weapons ambitions and cutting support for proxy militias such as Hezbollah, before receiving broader benefits.
Both sides said the Strait of Hormuz, which handles roughly one-fifth of global oil and liquefied natural gas trade, would reopen Friday. Iranian state media reported steps to lift maritime restrictions while maintaining coordination requirements with the Islamic Revolutionary Guard Corps.
Trump said oil tankers were already beginning to move through the strait, while Reuters reported that ship-to-ship transfers had been used in recent weeks to maintain export flows despite restrictions.
The U.S. said transit through the strait would be toll-free for 60 days under the interim arrangement, though Iran indicated it could retain oversight in coordination with Oman.
Despite the announcement, regional tensions remain, particularly over fighting involving Israel and Hezbollah in Lebanon, which has displaced more than 1 million people. Israel has continued military operations in southern Lebanon, while Iran has demanded a full halt to hostilities.
Trump said he was “not happy” with Israel’s conduct in the conflict, though an Israeli withdrawal from Lebanon was not included as a condition of the U.S.-Iran agreement, according to a U.S. official.
Iranian Foreign Minister Araqchi said Israeli attacks must stop immediately as part of any broader de-escalation effort.
