The White House believes it is close to an agreement with Iran based on a one-page-size memorandum of understanding to end the war and establish a framework for further negotiations on Tehran’s nuclear program.
This was reported in a report by Axios, which cited two U.S. officials and two other sources with knowledge of the matter.
The United States expects answers on a number of important issues within the next 48 hours. Nothing has been agreed yet, but sources say it is the closest the sides have come since the war began.
Stock markets strengthen, oil prices retreat
In the meantime European stocks are rising today with oil prices retreating and optimism among investors strengthening after US presidential statementsDonald Trump of “great progress” towards a comprehensive peace deal with Iran.
At 12:00 GMT, the French CAC 40 index was up 2.57 percent and Germany’s Dax was up 2.46 percent. The London stock market was up 2.28% and Milan was up 2%.
Around 11:55 GMT, the price of a barrel of North Sea Brent crude for July delivery was down 6.22% at $103.04. A barrel of U.S. WTI crude, delivered in June, fell 6.44% to $95.68.
Trump said he would suspend for a short period of time “Project Freedom,” as he christened a military operation to escort merchant ships seeking to leave the Gulf by crossing the Seaway of Hormuz.
China calls for opening the Strait of Hormuz
Chinese Foreign Minister Wang Yi today called for a “complete” end to hostilities in the Middle East and urged the US and Iran to reopen the Strait of Hormuz “as soon as possible” during talks in Beijing with his Iranian counterpart Abbas Araghchi.
“China believes that a complete cessation of hostilities is necessary, that a resumption of the conflict will not be acceptable, and that perseverance in negotiations is particularly important,” Wang Yi said, according to a statement issued by his office.
The Chinese minister also assessed that “the current regional situation is at a critical point of transition from war to peace.”
At the same time, Wang called on “the parties concerned” to immediately restore “normal and safe passage” through the Strait of Hormuz.
As for Iran’s nuclear program, the Chinese minister noted that “China appreciates Iran’s commitment not to develop nuclear weapons while recognizing its legitimate right to the peaceful use of nuclear energy.”
For his part, Araghchi stressed that “just as Iran has shown strength in defending itself and remains fully prepared to face any attack, it is also serious and firm in the field of diplomacy.”
“We will do everything we can to protect our legitimate rights and interests in negotiations” with the United States to end the war in the Middle East, Araghchi stressed after his meeting with Wang.“We only accept a fair and comprehensive agreement,” he added.
However, Araghchi made no mention of US President Donald Trump’s statements about suspending Plan Freedom – the US plan to escort merchant ships in the Strait of Hormuz – but spoke of “great progress” in negotiations to end the war.
