US and Iran near potential memorandum of understanding to de-escalate tensions
United States President Donald Trump cancelled planned military strikes against Iran only three hours before their scheduled commencement, citing progress in diplomatic negotiations. Reports from US and Iranian sources indicate that a draft memorandum of understanding is being discussed, which includes an extension of the regional ceasefire for 60 days, including in Lebanon. The proposed agreement calls for the unhindered reopening of the Strait of Hormuz and potential sanctions relief for Tehran in exchange for verified compliance. While the US and mediating diplomats suggest the text is nearing finalization, Iranian officials emphasize that no final decision has been made and reiterate their commitment to red lines. The proposed framework also addresses Iran's nuclear program, including the potential down-blending of enriched uranium under international supervision. Israeli Prime Minister Benjamin Netanyahu discussed the development with President Trump, expressing appreciation for US conditions regarding missile production and support for regional proxies. NBC News reported that despite the confusion caused by the last-minute cancellation, the US military had already prepared targets, though the island of Kharg was not among them.