A 60-day ceasefire extension framework has been agreed upon but requires final approval from President Trump to proceed.
Negotiators from the US and Iran have finalized a memorandum of understanding for a ceasefire, structured in two phases. The agreement includes a 60-day extension of the current ceasefire framework, though it remains subject to President Trump’s approval before implementation can begin.
Earlier reports indicated neither Trump nor Iran’s Supreme Leader Ayatollah Khamenei had formally endorsed the deal. The signing ceremony is expected to take place in Pakistan, signaling progress in diplomatic efforts after prolonged tensions.
Markets may monitor developments closely as geopolitical stability in the region could influence energy prices and broader risk sentiment.