Trump tells negotiators not to rush Iran deal after hinting at imminent agreement

President Donald Trump has instructed negotiators to “not rush” into a deal with Iran, after previously hinting that an agreement was imminent.

The reported terms of the deal include a 60-day extension of a ceasefire, the reopening of the Strait of Hormuz, and a framework for further talks on Iran’s nuclear programme.

Mr Trump wrote on social media that talks were moving in a “constructive” direction, but added: “Both sides need to take the time to get things right.”

He had said on Saturday that a deal was “basically done”, prompting speculation that it could be formally announced soon.

Over the weekend, Iranian officials also signalled progress in talks, with foreign ministry spokesman Esmaeil Baqaei saying that the two sides were “both very close and very far” from a deal.

According to US media reports, the proposed agreement is not a final resolution but would leave some of the most contentious issues for future negotiations, including Iran’s demands for the lifting of sanctions, calls for the release of frozen Iranian funds, and Washington’s demands for Iran to curb its nuclear ambitions.

Reports suggest the deal has caused divisions within the Republican party, with some publicly criticising it as too lenient on Iran.

Senator Ted Cruz said it would be “a catastrophic mistake”, while Roger Wicker, who chairs the Senate Armed Services Committee, said extending the 60-day ceasefire would “nullify everything that was achieved by Operation Epic Fury”.

However, Mike Lawler, a member of the House Foreign Affairs Committee, said the administration had successfully “forced the remnants of this regime to the table for a real negotiation”.

Massive air strikes by the US and Israel on Iran on February 28 led to an escalation of conflict in the Middle East. Iran subsequently attacked Israel and its US allies in the Gulf, and effectively blockaded the Strait of Hormuz, through which about 20% of the world’s oil and liquefied natural gas is transported. The move led to a sharp increase in global oil prices.

In early April, the US imposed a blockade on Iranian ports after a ceasefire agreement was reached. Mr Trump said the measures would “be in full effect until the deal is done, certified and signed”.

Mr Trump wrote on his social media platform Truth Social on Sunday, reiterating that Iran “must understand” that it must not develop nuclear weapons. Tehran has repeatedly stated that its nuclear programme is for peaceful purposes only.

Some US media reports suggest that the deal could include an agreement by Iran to eventually hand over its stockpile of highly enriched uranium.

It is estimated that Iran currently possesses about 440kg (970lb) of uranium enriched to 60% purity, which would require only a short further refinement to reach weapons-grade 90% purity, enabling Iran to build a nuclear bomb.

Iranian President Masoud Pezeshkian told state television that Iran was ready to “assure the world that we are not seeking to possess nuclear weapons”.

US Secretary of State Marco Rubio had earlier said that “significant” but “not yet final” progress had been made in the talks. He hinted that progress over the past 48 hours could lead to “a complete opening of the strait… with no tolls”.

Iranian foreign ministry spokesman Baqaei told state television on Saturday that Iran was in the final stages of confirming a “memorandum of understanding” to pave the way for further negotiations on a “final agreement”.

Mr Trump also referred to the arrangement as a “memorandum of understanding” in a Truth Social post on Saturday.

Pakistan’s deputy prime minister Ishaq Dar, who has been helping to broker the talks, said recent negotiations had been “optimistic” and that positive results were “within reach”.

Brent crude fell to $98.36 a barrel on expectations of a US-Iran peace deal

Oil prices have fallen sharply and Asian stock markets have risen on expectations of a US-Iran peace deal.

President Donald Trump said on Saturday that a deal with Tehran was “largely settled” and details would be announced soon, but on Sunday urged his negotiating team not to rush into an agreement.

Global crude benchmark Brent fell 5% to $98.36 a barrel (£57.10) in early Asian trading on Monday, while US-traded crude fell 5.3% to $91.50 a barrel.

Mr Trump had previously said the deal would include the reopening of the vital shipping lane of the Strait of Hormuz, but provided no further details.

The narrow waterway, through which about a fifth of the world’s oil and liquefied natural gas is transported, has been effectively closed since the outbreak of conflict on February 28.

Japan’s Nikkei 225 index rose 2.5% to break 65,000 points for the first time, buoyed by expectations that the Strait of Hormuz could reopen soon.

Japan, like its neighbour South Korea, is highly dependent on energy from the Gulf and has been particularly affected by the conflict.

UK and US energy and financial markets were closed on Monday for a public holiday.

Mr Trump said on social media on Saturday that he had had “very good calls” with the leaders of Saudi Arabia, the UAE and Qatar about the “peaceful memorandum of understanding”.

“The agreement between the United States of America, the Islamic Republic of Iran and the relevant countries has been largely settled and is awaiting final confirmation,” Mr Trump said.

“The final details of the agreement are currently being discussed and will be officially announced in the near future.”

He also said he had spoken with Israeli Prime Minister Benjamin Netanyahu on Saturday and that “progress has been very good”.

Mr Trump did not disclose further details of the agreement, but insisted that any deal would “absolutely” prevent Iran from obtaining nuclear weapons.

However, he wrote on Truth Social on Sunday: “Both sides need to take the time to get things right, no mistakes allowed!”

Iranian foreign ministry spokesman Baqaei told state television earlier that positions between the US and Iran had converged over the past week, but warned that this did not mean that a deal had been reached on key issues, and accused the US of making “contradictory statements”.