Iran and the United States have reportedly reached a final draft agreement that includes a ceasefire framework, sanctions relief, and a roadmap for negotiating remaining sticking points.
The agreement comes after a fragile ceasefire established on April 8, 2026, following roughly six weeks of open hostilities. That ceasefire has been described as being “on life support,” making a formalized agreement all the more urgent for markets watching the situation closely.
A long road of rejected drafts
Both sides have exchanged multiple drafts over the past several weeks, with Iran submitting 10-point proposals and the US responding with 15-point versions of its own.
President Trump rejected Iran’s latest counter-proposal on May 10, calling it “totally unacceptable.” At the same time, he described the broader negotiations as moving toward a comprehensive deal.
