Iran-US peace deal: Where does it stand today, what's being negotiated, and who said what — all you need to know

Iran and the US are reportedly closing in on a peace deal, top leaders from both sides suggested in the past few days. However, they are yet to agree upon a memorandum of understanding as differences “over one or two clauses of the possible memorandum of understanding still persist.”

Here's all you need to know about the latest US-Iran peace deal negotiations, what authorities are saying, and what's being negotiated.

He said, "The Blockade will remain in full force and effect until an agreement is reached, certified, and signed. Both sides must take their time and get it right."

Trump added that the US' relationship with Iran is becoming a "much more professional and productive one. They must understand, however, that they cannot develop or procure a Nuclear Weapon or Bomb."

The US President wondered if Iran would like to join the historic Abraham Accords. He said, "I would like to thank, thus far, all of the countries of the Middle East for their support and cooperation, which will be further enhanced and strengthened by their joining the Nations of the historic Abraham Accords and, who knows, perhaps the Islamic Republic of Iran would like to join, as well!."

2. Iran's President Pezeshkian was quoted by Mehr News as saying on May 24 that Iran stands ready to reassure the world on nuclear weapons and regional instability.

He reportedly said on Sunday that Iran’s position has remained consistent, and emphasised that Tehran is prepared to provide guarantees that its nuclear program is peaceful and that the country has no intention of creating unrest in the Middle East.

However, the Iranian president stressed, “We and our negotiators will never back down from Iran’s honour and sovereignty." He said this while referring to the recent talks between Tehran and Washington.

3. Top US diplomat Marco Rubio suggested on Monday that a deal could be reached within the day -- but Iran's foreign ministry spokesman responded: "No one can make such a claim."

"We thought we might have some news last night, maybe today," US Secretary of State Rubio was quoted by AFP as saying during a visit to New Delhi, referring to hopes for a deal.

"We have what I think is a pretty solid thing on the table in terms of their ability to open up the straits, get the straits open," Rubio said.

He added, "We're either going to have a good agreement or we're going to have to deal with it another way. We'd prefer to have a good agreement."

4. But Iran's foreign ministry spokesman Esmaeil Baqaei poured cold water on hopes for a quick final settlement.

He told a weekly news briefing, "It is correct to say that we have reached a conclusion on a large portion of the issues under discussion. But to say that this means the signing of an agreement is imminent -- no one can make such a claim."

Baqaei stressed that Iran would continue to manage maritime traffic through the Strait of Hormuz by charging service fees -- arguing that this did not amount to Tehran "seeking to collect tolls".

"The services that are provided -- navigational services in addition to the measures necessary to protect the environment of the Strait of Hormuz, the Persian Gulf and the Sea of Oman -- require the collection of certain fees," he said.

Earlier on Saturday, the Iranian Foreign Ministry spokesman had claimed that Iran and the US have edged closer to finalising a 14-point memorandum to end the imposed war in Pakistani-mediated talks.

But he maintained that “moving closer” does not mean that Iran and the US are about to reach an understanding. Rather, he explained, it means that “based on a set of parameters, the two sides may be able to achieve a win-win solution," Mehr News reported.

5. Israel's Prime Minister Benjamin Netanyahu said Sunday that he and Trump had agreed that "any final agreement with Iran must eliminate the nuclear threat entirely."

6. Pakistan's Prime Minister Shehbaz Sharif — whose government is spearheading efforts to mediate a negotiated agreement between the United States and Iran — met China's President Xi Jinping in Beijing.

Sharif claimed on Monday that progress has been made in the ongoing negotiations between Iran and the United States, according to a report by Dawn.

The Pakistani media outlet quoted Sharif saying that "things [are] moving in the right direction" in the context of the US-Iran talks.

Sharif, who is currently visiting China, made the remarks while speaking at the Great Hall of the People.

"We hope that peace will be restored, and lots of ground has already been covered; things are moving in the right direction," PM Shehbaz said. As per Dawn, he thanked the Chinese leadership for their support of Pakistan's mediation efforts.

Even as the details of the memorandum remain unclear, CNN reported that the central premise of this approach is that the memo, once signed, would stop the fighting, with US President Donald Trump facing midterms later this year and Iran’s economy in crisis.

The report added that the recent versions of the memorandum of understanding that appears "close" to be finalised would see the gradual reopening of the Strait of Hormuz and ending the US blockade of Iranian ports.

A countdown would then begin to iron out other sticking points such as Iran’s nuclear program, the report added.

Sources told CNN on Sunday that the framework agreement gives the parties “60 days to reach final deal points.”

They claimed that the potential deal would make sure Iran can never possess a nuclear weapon and would commit it to giving up highly enriched uranium, which the president often refers to as “nuclear dust.”

However, Iran's Email Baqaei said on Monday that details about the nuclear issue have not been discussed.

On Saturday, Baqaei had outlined the framework of the negotiations, saying, “Our approach has been to first draft a memorandum of understanding consisting of 14 articles."

"That memorandum would include the most important issues necessary to end the imposed war and matters of fundamental importance to us," he had said, according to Mehr News and Press TV.

“Subsequently, within a reasonable timeframe of 30 to 60 days, the two sides would discuss the details of these issues and ultimately reach a final agreement,” he reportedly added.

2. On Strait of Hormuz, Rubio said, "We're still a work in progress... I think is a pretty solid thing on the table in terms of their ability to open up the straits, get the straits open, and enter into a very real, significant time-limited negotiation on the nuclear matters. And hopefully we can pull it off."

3. On Saturday, the Iranian Foreign Ministry spokesman had reportedly said, “We are now in the finalisation stage of this memorandum of understanding. The topics being discussed at this stage focus broadly on ending the war, halting the US naval aggression — what they themselves have labeled a 'naval blockade'-, and issues related to the release of Iran's blocked assets."

4. Iran’s semi-official Tasnim news agency said Sunday that differences “over one or two clauses of the possible memorandum of understanding still persist."