JD Vance said that President Trump still needs to give his official approval on the peace deal.
JD Vance Breaks Silence on Trump’s Unfinished Iran Ceasefire Decision: 'It's Hard to Say Exactly...'
The United States and Iran are making steady progress toward a peace agreement. US Vice President JD Vance announced that Washington is "not there yet" with Iran, but he confirmed that the two sides are "very close."
To keep the momentum going, officials have agreed to extend the ceasefire for another 60 days. This temporary truce will allow teams to keep working through the final details. It will also allow commercial ships to move freely through the strategic Strait of Hormuz waterway again.
However, a final peace deal is not officially done yet. Iran’s semi-official Tasnim news agency reported that the text of the agreement has not been completely finalized or confirmed by their negotiating team.
Negotiators are trying to hammer out the final language of the deal. While discussing the progress, JD Vance shared an update, "It's hard to say exactly when or if the President is going to sign the MOU. We're going back and forth on a couple of language points. I can't guarantee that we're going to get there, but right now I feel pretty good about it."
Vice President JD Vance told reporters that U.S. has made “a lot of progress” in negotiations with Iran .
Moreover, one major goal for the US in these talks is to make Iran stop producing highly enriched uranium and completely get rid of its existing nuclear stockpile.
What Are the Terms of the New US-Iran Deal?
The 60-day agreement outlines a clear plan to stop the conflict and fix global trade. Under the draft deal, Iran will have to fully reopen the Strait of Hormuz to normal levels, clear away underwater naval mines within 30 days, with no fees or harassment.
In return, the United States will gradually lift its strict naval blockade on Iranian ports. The US will also pause certain economic sanctions and unfreeze some of Iran's locked bank assets so Iran can freely sell its oil again, as reported by Reuters.
Global markets reacted quickly to news from the peace talks. According to Benzinga, crude oil prices dropped slightly after news broke that the 60-day ceasefire extension was within reach. Investors believe this will fully stabilize the global energy market.
Tentative Deal Needs Donald Trump's Approval
The tentative deal now is completely dependent on Donald Trump’s approval. The President has reportedly asked for a few days to carefully review the memorandum before making his official decision, as per Axios.
An X post on US-Iran peace ceasefire extension deal.
Vance noted that Trump has not yet reviewed the proposal, adding, "Hopefully, we'll continue to make progress, and the president will be in a position where he can endorse the agreement, but obviously that's still TBD (to be determined)."
This diplomatic push follows months of severe tension surrounding the Strait of Hormuz, where one-fifth of the world’s oil and natural gas passes. Because of past military blockades and fighting in the region, global fuel prices had skyrocketed, which left people incredibly angry and frustrated.
On February 28, the US and Israel carried out an attack on Iran, which resulted in the death of its Supreme Leader, Ayatollah Ali Khamenei, along with several others. Iran retaliated by attacking US bases and allies in the Middle East. Fighting has continued even after a ceasefire was reached on April 8.