President Trump signaled on June 9 that a deal with Iran had a “good chance” of being finalized within “two or three days,” adding that Vice President JD Vance would attend the signing ceremony on his behalf.
What the deal looks like
The framework taking shape is a memorandum of understanding, not a full treaty. Vance, who has been closely involved in the back-channel discussions, described the US and Iran as “very close” to terms during remarks on May 28-29. The MOU would accomplish two immediate goals: extending a ceasefire by 60 days and reopening the Strait of Hormuz.
The Strait of Hormuz matters because roughly a fifth of the world’s daily oil supply passes through it.
The proposed deal also addresses Iran’s nuclear program, though the specifics of how compliance would be monitored and enforced remain part of the ongoing negotiations. Vance himself cautioned that Trump’s final sign-off was not guaranteed, noting that discussions still required “further progress” on certain sticking points.
