A US-Iran memorandum aimed at ending the conflict in West Asia could be signed as early as Sunday.
Negotiations focused on finalising the text and Geneva emerging as the likely venue.
Trump said planned US strikes had been cancelled because a deal was near, while nuclear issues are expected to be addressed in later negotiations.
A memorandum between the United States and Iran aimed at ending the war in the Gulf could be signed as early as Sunday, a Western source told Reuters on Friday, with Geneva emerging as the most likely location for the agreement.
Negotiations were in the final stages and the language of the memorandum was still being refined, according to Reuters. Iran has maintained that any agreement must also bring an end to fighting in Lebanon, where Israel has been engaged in conflict with the Iran-backed Hezbollah group.
The intention is to complete the wording by Saturday to allow the agreement to be signed by US Vice President JD Vance and Iran’s Parliament Speaker Mohammed Baqer Qalibaf. While no final venue has been confirmed, Geneva is currently seen as the leading option.
Trump said on Thursday that he was cancelling plans for further strikes on Iran because the agreement was now close to completion.
"We just made a great settlement of the war with Iran," Trump told reporters in the White House on Thursday.
However, details of the draft as described by Iranian officials on Friday suggest Tehran could secure several of its key demands, while Trump appears to have achieved fewer of his stated objectives apart from the reopening of the Strait of Hormuz, which Iran had closed following US-ordered strikes in February.
A senior Iranian source told Reuters that the draft would include lifting sanctions on Iran’s oil sector, releasing billions of dollars in frozen Iranian assets and requiring an end to hostilities across all fronts, including Lebanon.
The source said nuclear issues would be deferred to later negotiations. Washington has insisted that any future arrangement must prevent Iran from developing a nuclear weapon, while Tehran continues to deny pursuing one.
The lifting of sanctions, release of Iranian funds and an end to Israeli military operations in Lebanon remain central Iranian demands. The source did not specify what concessions Iran would make in return, and there was no immediate response from Washington.
Iran’s Mehr news agency reported that the proposed terms also include additional US commitments, including withdrawing forces positioned around Iran and presenting a framework to support reconstruction of Iran’s economy following the conflict.
(Reuters reported)
