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U.S. and Iran report progress on talks ending war, looking to next few days - Headlines news and analysis from Global Banking & Finance Review
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U.S. and Iran report progress on talks ending war, looking to next few days

Published by Global Banking & Finance Review

Posted on May 23, 2026

5 min read

· Last updated: May 23, 2026

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Trump says framework of Iran deal 'largely negotiated,' with provision to reopen strait

Progress and Negotiations on the Iran Peace Deal

By Asif Shahzad, Michael Martina and Ryan Patrick Jones

WASHINGTON/ISLAMABAD/NEW DELHI, May 23 (Reuters) - U.S. President Donald Trump wrote on Saturday that a memorandum of understanding on a peace deal with Iran is "largely negotiated," as both countries and mediators in Pakistan reported progress.

Emerging Agreement and the Strait of Hormuz

Trump posted on social media that the emerging agreement would reopen the Strait of Hormuz, the vital shipping passage whose closure upended global energy markets after the conflict started in February when the U.S. and Israel launched strikes on Iran. 

Trump did not say what else would be included in an agreement. "Final aspects and details of the Deal are currently being discussed, and will be announced shortly," Trump said. 

Iran's Response to the Negotiations

Iran's Fars news agency reported early on Sunday that the agreement would allow Iran to manage the Strait of Hormuz. It said Trump's assertion that an agreement was nearly final was "inconsistent with reality."

Iran had said earlier on Saturday that it was working toward a memorandum of understanding laying out an approach to ending the war after its top officials met with Asim Munir, the army chief of Pakistan.

Role of Pakistan in Mediation

The Pakistani army said the negotiations had resulted in "encouraging" progress towards a final understanding. Two Pakistani sources involved in negotiations said the deal being negotiated is "fairly comprehensive to terminate the war."

Sources have told Reuters the proposed ‌framework would unfold in three stages: formally ending the war, resolving the crisis in the Strait of Hormuz and launching a 30-day window for negotiations on a broader agreement, which can be extended.

Potential Outcomes and Next Steps

Earlier on Saturday, Trump told Axios that he expected to decide on Sunday whether to resume attacks on Iran. "Either we reach a good deal or I'll blow them to a thousand hells," Axios quoted him as saying.

One of the Pakistani sources said there was no guarantee ​the U.S. would accept the memorandum; if it does it would lead to further talks after the Eid holiday ends on Friday.

Trump's Engagement with Middle East Leaders

TRUMP TO SPEAK WITH MIDDLE EAST LEADERS

Trump, whose approval ratings have been hit by the war's impact on energy prices for U.S. consumers, said on Friday he would not attend his son's wedding this weekend, citing Iran among the reasons he planned to stay in Washington.

Trump wrote on his Truth Social platform that he had a phone call on Saturday with leaders from Saudi Arabia, Qatar, the United Arab Emirates, Jordan, Egypt, Turkey and Pakistan. Axios reported that the leaders encouraged Trump to agree to the emerging framework. 

Pakistan has aimed to narrow differences between Iran and the U.S. after weeks of war have left the vital Hormuz waterway closed to most shipping despite a nervous ceasefire.

U.S. Conditions and International Reactions

U.S. Secretary of State Marco Rubio earlier on Saturday reiterated Trump's terms for ending the fighting. "Iran can never have a nuclear weapon. The straits need to be open without tolls. They need to turn over their enriched uranium."

Rubio, who is visiting India, said some progress had been made and work was continuing.

Statements from U.S. Officials

"Even as I speak to you now, there's some work being done. There is a chance that, whether it's later today, tomorrow, in a couple days, we may have something to say," Rubio told reporters in New Delhi.

U.S. Vice President JD Vance returned to the White House on Saturday afternoon, cutting short a trip to Ohio.

Iran's Demands and Ongoing Disputes

Iran denies it is pursuing nuclear weapons and says it has a right to enrich uranium for civilian purposes. It has demanded supervision of the strait, an end to the U.S. blockade on its ports and the lifting of sanctions on Iranian oil sales.

"The trend this week has been towards a reduction in disputes, but there are still issues that need to be discussed through mediators. We will have to wait and see where the situation ends in the next three or four days," said Iranian Foreign Ministry spokesperson Esmail Baghaei.

Baghaei said the issue of the U.S. blockade on Iran's shipping was important, but that its priority was ending the threat of new U.S. attacks and the ongoing conflict in Lebanon, where Iran-allied Hezbollah militants are fighting Israeli troops who have moved into the south.

Diplomatic Efforts and Military Posturing

Pakistan's army chief Munir left Tehran on Saturday after talks with Iran's top negotiator Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi.

Qalibaf said Iran would pursue its "legitimate rights," both on the battlefield and through diplomacy, but added that it could not trust "a party that has no honesty at all," an allegation Iran has made several times before.

He said Iran's armed forces had rebuilt their capabilities during the ceasefire and that, if the U.S. "foolishly restarts the war," the consequences would be "more forceful and bitter" than at the start of the conflict.

Despite weeks of conflict, Iran has preserved its stockpile of near-weapons-grade enriched uranium as well as missile, drone and proxy capabilities.

Additional Reporting

(Additional reporting by Doina Chiacu, Ariba Shahid, Hatem Mater and Andrew Mills; writing by Philippa Fletcher, Rod Nickel; Editing by Kevin Liffey, David Gregorio, Sergio Non and Nia Williams)

Key Takeaways

  • Iran, the U.S. and mediator Pakistan say talks to end the war have seen “slight” but real progress, with all sides aiming to finalize a memorandum of understanding in the coming days. (axios.com)
  • Key sticking points remain: Iran insists on protecting its enriched uranium stockpile and ending the threat of U.S. military strikes, while the U.S. insists Iran cannot obtain nuclear weapons and demands reopening of the Strait of Hormuz. (apnews.com)
  • The Strait of Hormuz, a strategic chokepoint through which about 20‑25% of global oil and LNG flows, was effectively closed by Iran in late February, severely disrupting energy markets; reopening remains a critical issue in the talks. (en.wikipedia.org)

References

Frequently Asked Questions

What progress has been made in the US-Iran war talks?
Officials report encouraging progress after talks mediated by Pakistan, with both the US and Iran indicating a possible final understanding in the coming days.
What is Pakistan's role in the US-Iran negotiations?
Pakistan is acting as a mediator, aiming to narrow differences between Iran and the US and facilitate the negotiation process.
What are the main issues discussed in the talks?
The talks focus on ending hostilities, the US blockade on Iran's shipping, and Iran's concerns about new US attacks and ongoing conflicts in Lebanon.
How has the Strait of Hormuz been affected by the conflict?
The conflict led to the closure of the Strait of Hormuz for most shipping, impacting global energy markets despite a shaky ceasefire.
What are the positions of the US and Iran in the negotiations?
The US demands Iran cannot have nuclear weapons and open straits, while Iran insists on its legitimate rights and distrusts US intentions.

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