The United States and Iran appeared closer to a new diplomatic understanding on Friday as President Donald Trump said he was preparing to make a final decision on a proposed agreement that could extend the current ceasefire, reopen the strategically vital Strait of Hormuz, and address concerns over Tehran’s nuclear activities.
Speaking from Washington on May 29, Trump said he would convene a meeting in the White House Situation Room to determine whether to approve a framework that has been under negotiation for days through backchannel diplomatic contacts and regional mediation efforts.
“I will be meeting now, in the Situation Room, to make a final determination,” Trump said, referring to the White House’s crisis management center, where senior national security officials monitor major international conflicts.
The proposed arrangement would reportedly extend the ceasefire that has been in effect since early April by another 60 days, allowing commercial shipping and energy exports to resume through the Strait of Hormuz while negotiators continue discussions on Iran’s nuclear program and broader regional security issues.
The Strait of Hormuz, one of the world’s most important maritime chokepoints, carries a significant portion of global oil and liquefied natural gas shipments. Disruptions in the waterway since the outbreak of the conflict have contributed to sharp increases in energy prices and heightened concerns about global economic stability.
Trump reiterated that any agreement would require Iran to permanently abandon efforts to acquire nuclear weapons.
“Iran must agree that they will never have a Nuclear Weapon or Bomb. The Hormuz Strait must be immediately open, no tolls, for unrestricted shipping traffic, in both directions,” Trump wrote in a public statement, adding that the United States would ensure nuclear materials were secured and monitored.
The remarks came as international markets responded positively to reports of potential progress. Oil prices declined while major stock indexes gained ground amid expectations that shipping disruptions in the Gulf could soon ease. Analysts said investors viewed a ceasefire extension as a step toward stabilizing global energy supplies after months of volatility.
However, Iranian officials and media outlets pushed back against portions of Trump’s characterization of the talks.
A senior Iranian source told Reuters that a political understanding had been reached in principle but had not yet been finalized. Meanwhile, Iran’s semi-official Fars News Agency described Trump’s claims as containing a “mixture of truth and falsehood” and accused Washington of attempting to portray a diplomatic victory before negotiations were complete. According to Fars, discussions have included reopening the strait after the removal of U.S. restrictions on Iranian shipping, but there has been no agreement to destroy Iran’s nuclear materials.
The conflict that triggered the current diplomatic efforts began on February 28, when the United States and Israel launched military operations against Iran. Tehran responded by restricting access through the Strait of Hormuz, leading to a prolonged confrontation that expanded across the region and disrupted global trade routes. Thousands of people have reportedly been killed during the conflict, particularly in Iran and Lebanon, while the economic consequences have extended far beyond the Middle East.
One of the most difficult issues in the negotiations remains Iran’s stockpile of highly enriched uranium.
According to the International Atomic Energy Agency (IAEA), Iran possessed more than 440 kilograms of uranium enriched to 60% purity before recent military strikes. Experts say that level of enrichment is technically close to weapons-grade material, although Iran has consistently denied seeking nuclear weapons. The United States has demanded that the stockpile either be removed, diluted, or placed under strict international supervision as part of any long-term settlement.
In an interview with the Financial Times published on May 29, IAEA Director General Rafael Grossi said Kazakhstan had indicated its willingness to receive and store Iran’s highly enriched uranium if a final agreement were reached between Washington and Tehran.
“Kazakhstan has signalled it is willing to take Tehran’s stockpile” of uranium enriched close to weapons-grade levels, Grossi said after discussions with Kazakh authorities. Kazakhstan already hosts an internationally supervised low-enriched uranium bank operated by the IAEA, making it a potential destination for any future transfer arrangement.
Diplomatic observers caution that significant obstacles remain. While negotiators have reportedly drafted a memorandum of understanding, disagreements persist over sanctions relief, access to Iranian funds frozen abroad, the future of Tehran’s nuclear infrastructure, and security arrangements in the Gulf. Trump also faces pressure from political allies who oppose any agreement perceived as too similar to previous nuclear arrangements with Iran.
For now, both governments appear to be weighing whether a temporary extension of the ceasefire can create enough space to pursue a broader settlement. A decision from the White House could determine whether the current pause in hostilities evolves into a more durable diplomatic process or whether tensions in one of the world’s most strategically important regions begin rising again.
