header logo
Asia asset finance
Mogo Academy
Latest
US, Iran inch closer to deal, timing remains unclear
1h ago
US, Iran inch closer to deal, timing remains unclear

U.S. and Pakistani leaders forecast a Sunday signing of a long-elusive framework agreement ​to end fighting between the United States and Iran, but Tehran cast doubt over the timing and hardline protesters in Iran voiced opposition.

 

President Donald Trump posted on social media ‌on Saturday that the deal with Iran was scheduled to be signed the next day, his 80th birthday. Pakistani Prime Minister Shehbaz Sharif said the two sides had agreed on a framework for a peace deal and that Islamabad was preparing for an electronic signing on Sunday, to be followed by technical-level talks in the coming week.

 

But Iran did not confirm a Sunday signing. Iranian Foreign Ministry spokesperson Esmaeil Baghaei, speaking before Trump's post, had cautioned against commenting on ​the timing of the signing but was quoted by state media saying, "It will not be tomorrow," but could happen "in the coming days."

 

Trump wrote on Truth Social that after a framework ​deal is signed, the Strait of Hormuz, a vital artery for global oil supplies that Iran has blocked, would immediately be "open to all."

 

IRANIAN HARDLINERS REMAIN VISIBLE

 

While U.S. bombings have heavily degraded Iran's military-industrial base and damaged its military, experts say the war has left hardline Revolutionary Guard dominance more firmly entrenched than before.

 

Videos on social media and Iranian ​news websites showed opponents of an agreement gathering in squares and in front of the Foreign Ministry in Tehran, appearing to blame Iranian Foreign Minister Abbas Araqchi as they chanted, "Araqchi have some shame, let ​go of America!"

 

Reuters could not immediately verify the videos.

 

When the U.S. and Israel launched the war against Iran on February 28, Trump called on Iranians to rise up and take over state institutions.

 

Even as the U.S. and Iran appeared to be moving toward an agreement over the past two days, clashes have continued, as the U.S. military imposes a blockade on Iran and seeks to loosen Iran's chokehold on the Strait of Hormuz, which was the conduit for ​20% of the world's oil shipments before the war.

 

Early on Saturday, U.S. forces shot down multiple Iranian one-way attack drones heading toward the strait, the U.S. military said. Israel, which says it is not ​a party to the U.S.-Iran deal, said on Saturday that it had struck more than 70 sites over a 24-hour period in Lebanon against Iranian ally Hezbollah.

 

Israeli Prime Minister Benjamin Netanyahu has clashed with Trump over U.S. ‌demands that Israel curb military action in Lebanon to allow Washington to reach a deal with Tehran.

 

On Friday, Araqchi said that while changes in the deal were still possible, the tentative agreement showed his country had emerged stronger from the conflict.

 

OPENING STRAIT A PRIORITY, NUCLEAR TALKS LATER

 

At pro-government rallies held across Iran on Saturday night, residents and news agencies reported that hardliners opposed to the framework agreement loudly voiced their dissatisfaction.

 

A resident in the northeastern city of Mashhad told Reuters that some protesters chanted: "Death to the compromiser," in an apparent reference to Araqchi. "Compromiser, resign, resign."

 

The proposed memorandum of understanding calls for reopening the strait and ​lifting the U.S. naval blockade, sources on all ​sides of the talks said. Negotiations over Iran's nuclear program a key rationale Trump has given for the war would take place afterwards.

 

"Iran is going to open up the Strait of Hormuz, that's a requirement. It could be open with no tolls. As they do that, we will lift our blockade," a U.S. official told reporters.

 

"It's going to ​happen in conjunction, and part of the next step, the phase after that, is going to be the demining of the straits," the official ​said, indicating countries in the Group of Seven major powers could have a role in this.

 

Trump discussed the efforts to end the Iran conflict in a call with British Prime Minister Keir Starmer, Downing Street said on Saturday.

 

Draft terms described to Reuters by multiple sources indicate the U.S. would begin releasing billions of dollars in frozen Iranian assets and waive sanctions on its oil exports, in return for Iran opening the strait.

 

Iran's Fars news agency quoted Baghaei as saying ​the release of Iran's frozen assets was an integral part of the agreement and also that Iran would have to ​charge for services in the Strait of Hormuz.

 

He said foreign military bases in the region must end, the agency reported, without providing details.

 

Iran's nuclear program would be addressed during a 60-day period of talks. A U.S. official said the agreement would ultimately ​lead to the dismantling of Iran’s nuclear program, with its stockpile of highly enriched uranium to be destroyed and removed.

 

Source: Reuters 

-Agencies 

 

MostRead
Mobitel 5g
VideoStories
El Niño expected to gradually impact Sri Lanka, experts warn

El Niño expected to gradually impact Sri Lanka, experts warn

Dengue cases surge in Sri Lanka with over 40,000 patients recorded this year

Dengue cases surge in Sri Lanka with over 40,000 patients recorded this year

Sri Lanka Navy launches new book showcasing nation’s maritime heritage

Sri Lanka Navy launches new book showcasing nation’s maritime heritage

Special Dengue Prevention Week in Colombo from June 15 to 21

Special Dengue Prevention Week in Colombo from June 15 to 21

“New corruption cases stalled by CIABOC” Joint Opp. seeks meeting with Chairman to raise concerns

“New corruption cases stalled by CIABOC” Joint Opp. seeks meeting with Chairman to raise concerns

Sri Lanka bans export of mineral resources without value addition

Sri Lanka bans export of mineral resources without value addition

Over 39,000 dengue cases reported islandwide; health officials warn of hospital capacity pressure

Over 39,000 dengue cases reported islandwide; health officials warn of hospital capacity pressure

Court declines request for daily access to detained ex-SIS Director Suresh Sallay

Court declines request for daily access to detained ex-SIS Director Suresh Sallay

Colombo HC dismisses Shashi Weerawansa’s appeal over passport case

Colombo HC dismisses Shashi Weerawansa’s appeal over passport case

Satyagraha staged against Suresh Sallay’s detention temporarily suspended after court decision

Satyagraha staged against Suresh Sallay’s detention temporarily suspended after court decision

Court appoints five-member special medical panel to examine Suresh Sallay’s health condition

Court appoints five-member special medical panel to examine Suresh Sallay’s health condition

Opposition calls for fair investigation into Easter attacks and Suresh Sallay

Opposition calls for fair investigation into Easter attacks and Suresh Sallay

Cabinet Spokesman rejects accusations, says Suresh Sallay treated like any other detainee (English)

Cabinet Spokesman rejects accusations, says Suresh Sallay treated like any other detainee (English)

Minister claims funds transferred to foreign companies via ‘TT’ payment method, posing as importers

Minister claims funds transferred to foreign companies via ‘TT’ payment method, posing as importers

Suresh Sallay continues hunger strike; UNP calls for parliamentary review of treatment (English)

Suresh Sallay continues hunger strike; UNP calls for parliamentary review of treatment (English)

Lassana Flora