U.S. President Donald Trump said he could reach a deal with Iran before his scheduled visit to China on June 14-15.
In an interview with PBS News on Friday, when asked whether a deal with Iran was imminent, Trump said, "I think so," adding, "There's a very good chance we'll reach an agreement." Asked whether it could be concluded before his departure for China next week, Trump said, "It's possible." However, he cautioned, "I've had that feeling before when negotiating with them, so we'll have to see how it goes," warning, "If we don't reach a deal, we'll have to bomb them like crazy again."
Trump also disclosed some details of the ongoing negotiations. Asked whether Iran shipping its highly enriched uranium stockpile, possibly to the United States, could be part of the agreement, Trump stressed, "Not possibly. It's going to the United States." When asked whether Iran refraining from operating its underground nuclear facilities would also be part of the deal, he replied, "That's right." However, he ruled out allowing low-level enrichment at around 3.67 percent after Iran's nuclear enrichment suspension period ends, saying, "No."
Trump explained that "they will implement [nuclear-related measures] for a long time as a confidence-building step." He also said, "If a deal is reached, we will ease sanctions on Iran, among other things." Trump said it was unlikely that Middle East Envoy Steve Witkoff and his son-in-law Jared Kushner would immediately head to mediator countries such as Pakistan for negotiations. "We can do it [negotiate with Iran] here as well, and probably at the final meeting, we'll hold a signing ceremony somewhere," he said.
In related news, U.S. online media outlet Axios reported that the United States and Iran are close to signing a one-page memorandum of understanding (MOU). The MOU reportedly includes a temporary moratorium on Iran's nuclear enrichment, the U.S. lifting of sanctions against Iran and partial release of frozen funds, gradual lifting of Iran's restrictions on passage through the Strait of Hormuz, and gradual lifting of the U.S. maritime blockade on Iran.
However, Bloomberg reported, citing a source, that contrary to Trump's remarks that Iran had agreed to ship its highly enriched uranium to the United States, specific negotiations on Iran's future nuclear program would take place at a later date. The Wall Street Journal (WSJ) reported that "the United States and Iran, along with mediators, are preparing a one-page framework to resume negotiations aimed at ending the conflict and opening the Strait of Hormuz, with talks potentially beginning as early as next week in Islamabad, Pakistan." The negotiations are expected to last about a month and will address Iran's nuclear program and sanctions relief.
In summary, the picture emerging is that the two sides will first agree on a one-page MOU and then sit down at the negotiating table for 30 days of intensive talks on nuclear issues and sanctions relief. The WSJ noted that differences remain on uranium enrichment limits and nuclear inspections.
International oil prices plunged on expectations of a U.S.-Iran agreement. On the ICE Futures Exchange, Brent crude futures for July delivery settled at $101.27 per barrel, down 7.83 percent from the previous trading day. On the New York Mercantile Exchange, West Texas Intermediate (WTI) for June delivery fell 7.03 percent to $95.08.
