Iran Says Follow-Up Talks With US to Begin Same Day as MOU Signing
Summary
- Iran’s foreign minister said follow-up talks between the US and Iran are set to begin on the same day the memorandum of understanding (MOU) is signed.
- He said the final agreement will cover Iran’s nuclear program and the lifting of sanctions on Tehran, with an additional 60 days of negotiations to follow.
- Markets see the signing of the memorandum of understanding as a possible starting point for easing tensions between the two countries, though substantial negotiations still remain over the nuclear issue and sanctions relief.
Forecast Trend Report by Period
Iran said it will begin follow-up negotiations with the US on a final agreement immediately after the two sides sign a memorandum of understanding, or MOU.
Walter Bloomberg reported on June 16 that Iran’s foreign minister said talks between Washington and Tehran are set to start the same day the MOU is signed.
Once the first-stage process is completed, the two sides will hold another 60 days of negotiations to reach a final agreement.
The final deal will cover Iran’s nuclear program and the lifting of sanctions on Tehran, he added.
The remarks came after the US and Iran said they had completed the signing of the memorandum of understanding.
The US had previously said the MOU lays out a basic framework for normalizing the Strait of Hormuz, limiting Iran’s nuclear program and establishing an international inspection system.
The US and Iran still differ on some issues, including the timing of sanctions relief and the scope of economic compensation.
Markets are increasingly betting that the MOU could mark the starting point for easing tensions between the two countries, though a lengthy negotiation process still remains before any final agreement on the nuclear issue and sanctions relief.
