US-Iran Ceasefire Memo Awaits Signature; Trump Seeks More Time

US Vice President JD Vance stated today that the US is 'very close' to reaching a transitional memorandum with Iran to extend a ceasefire for 60 days, reopen the Strait of Hormuz, and initiate negotiations to limit Iran's nuclear program. However, whether both sides will sign remains uncertain. Axios reported that if signed, it would be the most significant diplomatic breakthrough since the war began, though a final agreement satisfying President Trump's requirements for curbing Iran's nuclear development would require intensive follow-up negotiations. US officials claim Iran has signaled through intermediaries that they are ready to sign. President Trump has been briefed on the details but has not yet given the green light, with an official stating the President wants a few more days to consider. Trump also spoke with Qatar's Emir Sheikh Tamim Al Thani on the 28th to discuss the agreement. Officials suggest Trump wants to ensure Iran will not back down and also wants to gauge domestic political reactions. Vance expressed cautious optimism but could not guarantee a timeline. Meanwhile, Treasury Secretary Scott Bessent emphasized that Iran must agree to dispose of highly enriched uranium, renounce nuclear weapons, and fully reopen the Strait of Hormuz. Iran seeks the release of frozen assets and control over the strait, while fearing Trump might be swayed by Israel. Trump has stated he feels no rush to reach a deal unless Arab nations join the Abraham Accords.