According to Vance US and Iran reportedly close to tentative agreement
After months of tension and fighting, the conflict between the USA and Iran could be turning a corner. According to media reports, both sides are close to an agreement to extend the ceasefire and start new negotiations - even if not all hurdles have been cleared yet.
29.05.2026, 07:17
29.05.2026, 08:05
SDA
According to US reports, the USA and Iran are nearing an agreement on an extension of the ceasefire and further negotiations. Much progress has been made with regard to a memorandum of understanding, but work is still being done on a number of points, said US Vice President JD Vance. However, it remains to be seen whether President Donald Trump will agree. Tehran said that a preliminary agreement had not yet been formulated and had therefore not been confirmed. This was reported by the Tasnim news agency, which is close to the Revolutionary Guards - Iran's elite military force - citing a source close to the negotiating team.
The New York Times, citing three US officials familiar with the talks, reported that an agreement was close to being reached. This could extend the ceasefire that has been in place since April 8, lead to the reopening of the Strait of Hormuz and pave the way for more substantive talks.
The US news portal "Axios" had reported, citing US officials, that negotiators from both sides had already agreed on a 60-day declaration of intent to extend the ceasefire and begin negotiations on the Iranian nuclear program. However, Trump and the Iranian leadership still have to agree to this, they said.
Vance: "Hopefully we will continue to make progress"
US Vice President Vance said: "I think it's hard to say exactly when or if the president will sign the memorandum of understanding." The Iranians appeared to be negotiating in good faith - at least as of now. "Hopefully we'll continue to make progress," Vance added.
According to Axios, the memorandum of understanding will stipulate that shipping through the Strait of Hormuz will once again be "unrestricted" and free of charge. In addition, Iran would clear all mines in the strait, which is important for the global oil and liquid gas trade, within 30 days. In return, the US naval blockade of Iranian ports would be lifted.
After the start of the war on February 28, Iran blocked passage through the strait, bringing shipping traffic to a virtual standstill. As a result, oil and gas prices on the energy markets shot up. The USA blocked Iranian ports in return. According to "Axios", another part of the memorandum of understanding is that the USA will grant some exceptions to sanctions against Iran so that the country can sell oil freely. The proceeds from oil exports are one of the most important sources of income for the Islamic Republic.
USA continues to take action against Iran's shadow fleet
According to the US, Iran is circumventing the oil sanctions with the help of a network of hundreds of ageing tankers with disguised ownership. With this so-called shadow fleet, the leadership in Tehran has been able to sell billions worth of crude oil to China. The US State Department is now imposing sanctions against several organizations, individuals and vessels that "form the backbone of Iran's illicit oil trade", according to the statement.
The measures are aimed at the "financial lifelines" of the Revolutionary Guards and the Iranian military apparatus. In addition, the US Treasury Department is imposing further sanctions against "key players in an oil trading network" based in Hong Kong who have enabled the storage, transportation and sale of this oil and thus directly financed the Revolutionary Guards, the general staff of the Iranian army and the military apparatus.
Back in April, the US Treasury Department announced that the Chinese oil refinery Hengli would be subject to sanctions due to its extensive business dealings with Tehran. "Independent refineries based in China continue to play a critical role in sustaining Iran's oil economy, and Hengli is one of the largest purchasers of crude oil and other petroleum products from Iran," it said. Sanctions were also imposed on around 40 shipping companies and ships in the Iranian shadow fleet.
US military denies shooting down a US drone
Meanwhile, the US Army denied Iranian reports of a US drone allegedly shot down over the Persian Gulf. The reports were false and the US Air Force had not suffered any losses, the responsible regional command (Centcom) announced on Platform X last night.
The Tasnim news agency, which is close to the Iranian Revolutionary Guards, had previously reported, citing a military source, that a missile had shot down a US drone near the southern port city of Bushehr. The claims by both sides could not initially be independently verified.
According to Iranian sources, the US military attacked an area of the airport in the city of Bandar Abbas on the Strait of Hormuz on Thursday night. Prior to this, the Revolutionary Guards are said to have forced two ships to turn back in the strait with warning shots and triggered the US attacks. According to the US military, the attack in the Bandar Abbas area was aimed at a control center responsible for drone missions. Earlier in the week, there had already been exchanges of fire in the Strait of Hormuz despite the ceasefire and ongoing negotiations.
