Washington D.C. / Tehran — May 28, 2026: In the most significant diplomatic breakthrough since the US-Iran war began on February 28, 2026, U.S. and Iranian negotiators have reached a tentative agreement to extend the ceasefire for 60 days and formally launch negotiations on Iran's nuclear program — but the deal remains in limbo as President Donald Trump has yet to give his final approval. Iran has also not formally confirmed its acceptance.

What's in the 60-Day Ceasefire MOU?

U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear program, but President Trump has yet to give his final approval, two U.S. officials and a regional source involved in the mediation efforts told Axios.

According to sources, the key terms of the MOU during the 60-day extension include:

  • Strait of Hormuz shipping will be fully "unrestricted"
  • Iran must remove all mines from the strait within 30 days
  • U.S. naval blockade will be lifted proportionally as Iran fulfills commitments
  • Nuclear talks will begin formally under the ceasefire framework
  • The MOU also references promoting "regional peace", with the Trump administration hoping to discuss Iran's support for regional proxies

One U.S. official described the MOU as "an agreement to get everybody to the table," adding: "We will work out the details in the negotiations."

Trump Has Not Yet Signed — Here's Why That Matters

President Trump is considering whether to sign off on the 60-day memorandum of understanding that would extend the U.S.-Iran ceasefire in the Middle East and set the table for nuclear talks — a significant development in the three-month-old war. Both countries have previously hailed progress, with Trump repeatedly indicating the U.S. was close to securing an agreement — only for the stalemate to drag on.

Trump did not have any public events scheduled on Thursday and did not weigh in on the reported deal on social media or elsewhere. The world is now watching to see whether the president endorses what his negotiating team has built — or whether he introduces new conditions, as he has done at several prior inflection points in the conflict.

Pakistan's Critical Mediating Role

The deal, if approved, would mark a breakthrough in the conflict after weeks of negotiations facilitated by Pakistan and U.S. allies such as Qatar. Pakistan's Foreign Minister Ishaq Dar is expected to meet with Secretary of State Marco Rubio on Friday in Washington, which could move things along significantly.

For full official background on the U.S. State Department's diplomatic engagement with the Iran conflict, including ceasefire framework documents and official statements, visit the U.S. Department of State's Iran page.

No Sanctions Relief, No Secret Deals — U.S. Officials Firm

The two U.S. officials claimed there will be no side deals or secret clauses about sanctions relief or funds going to Iran. "The more the Iranians are willing to give, the more they will get," one official said.

The officials also claimed the Iranians had given verbal commitments during the negotiations about their willingness to make nuclear concessions, but added: "We will not know until we get in the room, which is why we want to do this MOU — it gets both sides into the room to negotiate directly."

What This Means If Trump Signs

U.S. and Iranian negotiators have reached a tentative agreement to extend the ceasefire by 60 days and launch negotiations on Iran's nuclear program — the signing of the MOU would be the most significant diplomatic breakthrough since the war started, but a final agreement that tackles Trump's nuclear demands would still require further intensive negotiations.

Markets responded positively to the news: gold rebounded over 1%, oil prices dipped below $103 per barrel, and the U.S. dollar weakened — all classic signals that financial markets are pricing in a reduced risk of further military escalation in the Middle East.

What Happens If He Doesn't?

If Trump declines to sign the MOU or introduces new conditions, the existing ceasefire — already under strain from reported violations on both sides — could collapse entirely. That scenario would likely trigger a fresh spike in oil prices, renewed safe-haven demand for gold, and a significant sell-off in global equities. The stakes have never been higher. The world waits for Trump's pen.