A senior U.S. official cautioned Monday that an Iran peace deal memorandum of understanding remains days away, seeking to tamp down expectations of a Memorial Day weekend signing. The official said negotiators still must resolve verification steps for uranium removal and sequencing for Hormuz reopening.
The comment followed mixed messages from President Donald Trump and Secretary of State Marco Rubio about how close an agreement might be. CNN reported that Cairo talks would continue with expert working groups on sanctions language.
Iranian media echoed Tehran’s position that no deal is imminent until U.S. blockades lift in tandem with security guarantees. Markets remained volatile as traders weighed partial diplomatic progress against military risks.
Congressional staffers said they had not received draft texts for review. Allies requested briefings on enforcement mechanisms should either side accuse the other of violations.
Negotiators plan to exchange draft annexes on sanctions relief and prisoner issues before any signing ceremony. Israeli officials requested parallel consultations on regional security guarantees. Markets will reopen Tuesday with investors watching for MOU language on enforcement and dispute resolution.
Memorial Day events in Washington proceeded as negotiators worked through holiday sessions. Gulf stock markets opened cautiously Tuesday, reflecting investors’ wait for written MOU language.
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Sources:
https://us.cnn.com/2026/05/24/world/live-news/iran-war-news