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US, Iran Explore Short-Term Deal

A three-stage memorandum would end fighting, open 30 days of talks and leave Iran’s nuclear and missile disputes unresolved, sources said.

  • On Friday, the United States and Iran neared a limited, temporary agreement to halt their war, aiming to stabilize shipping through the Strait of Hormuz while leaving major nuclear disputes unresolved.
  • Since the war began on February 28, the conflict has trapped around 1,500 ships and 20,000 international crew in the Gulf, disrupting energy supplies and straining global markets.
  • The proposed framework would unfold in three stages, though hostilities continued Friday as the United States military carried out strikes on Iranian targets following an attack on three American destroyers.
  • While global markets rallied on optimism that supply disruptions might ease, Iranian lawmaker Ebrahim Rezaei described the proposal as "more of an American wish-list than a reality."
  • If both sides accept the preliminary deal, a 30-day window for negotiations on a broader agreement would begin, potentially easing tensions in Lebanon where an Israel-Hezbollah truce remains strained.
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US, Iran explore short-term deal

ISLAMABAD — The United States and Iran are edging toward a temporary agreement to halt their war, sources and officials said Thursday, with Tehran reviewing a proposal that would stop the fighting but leave the most contentious issues unresolved.

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Balance sheet season also remained on investors' radar

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Modern Diplomacy broke the news on Thursday, May 7, 2026.
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