US and Iranian negotiators reached a tentative ceasefire extension and nuclear talks framework on May 28, according to the Associated Press. The announcement followed weeks of back-channel talks mediated by Gulf states.
President Donald Trump said on May 23 that a deal with Iran had been largely negotiated and would be announced shortly. Trump's statement, reported by Fortune, described an agreement that would reopen the Strait of Hormuz for oil shipping.
Iran's Foreign Ministry described the draft as a framework agreement, with details to be discussed over 30 to 60 days, according to state-run IRNA. The characterization suggests a final nuclear deal remains distant.
As of May 29, no final nuclear deal has been announced. The tentative agreement is a framework for future talks rather than a binding accord. The lack of a final deal has kept the probability of a completed agreement by May 31 low.
The next two days will determine whether the framework can be formalized into a signed agreement before the May 31 deadline. No further talks have been publicly scheduled.
