UPDATE: Iran peace deal hits new uncertainty as Trump tells negotiators not to rush and says both sides need more time, with Rubio suggesting agreement may come Monday despite earlier optimism.
An emerging agreement to end the U.S.-Iran war hit new uncertainty Sunday after President Trump instructed negotiators not to rush, reversing earlier optimism that a deal was imminent. Secretary of State Marco Rubio said a 'solid' agreement may come Monday, though he cautioned 'we're still a work in progress' during a visit to India. The reported deal would include a 60-day ceasefire extension, reopening the Strait of Hormuz, and Iran eventually giving up its highly enriched uranium stockpile—about 440 kilograms enriched to 60% purity.
Under the framework, thorny issues including sanctions relief and frozen Iranian funds would be negotiated during the 60-day window. Iran's foreign ministry said the sides were both 'very close and very far' from agreement, with communication challenges as Supreme Leader Khamenei, injured in the February strike that started the war, remains in an undisclosed location. The deal has split Trump's Republicans—Senators Cruz, Graham, and Wicker harshly criticized it as potentially disastrous, while Senator Rand Paul defended the president's approach.
Oil prices fell sharply Monday on hopes of a deal, with Brent crude dropping 5.5% to $97.08 per barrel. The Strait of Hormuz, through which 20% of global oil and natural gas typically passes, has been effectively closed since Iran retaliated for the February 28 U.S.-Israeli strikes. The conflict has cost U.S. taxpayers at least $29 billion and claimed 13 American service members' lives, while jolting the world economy with spiking energy prices.
Editor’s rationale — High institutional impact from potential US-Iran diplomatic agreement that would reshape Middle East policy, sanction regimes, and nuclear negotiations with multi-decade consequences; global scale affecting oil markets and regional stability; strong durability as foundational foreign policy shift; moderate novelty as statement of ongoing negotiations rather than confirmed breakthrough; verification grounded in Secretary of State statement and confirmed media reporting, though deal remains unsigned and contingent.