Portugal Colonial - US, Iran near deal but Trump sign-off awaited

US sources told AFP earlier that the two sides had reached agreement on a memorandum of understanding (MOU) to prolong the truce for 60 days.

But US Vice President JD Vance said Trump -- who was notably silent throughout the day -- had yet to sign on the dotted line. There was no immediate reaction from Iran.

"It's hard to say exactly when or if the President is going to sign the MOU," Vance, who has played a key role in the negotiations, told reporters.

"We're going back and forth on a couple of language points. We've made a lot of progress here."

Vance said the Iranians were negotiating in "at least so far in good faith" and both sides wanted to reopen the Straits of Hormuz -- but there was still disagreement on Iran's stockpile of enriched uranium.

"Hopefully, we'll continue to make progress and the president will be in a position where he can endorse the agreement, but obviously that's still TBD," meaning to be determined, he added.

US Treasury Secretary Scott Bessent earlier said that "we perhaps have the makings of a deal here" but said some of Trump's red lines had still not been met.

"He's not going to take a bad deal. He's going to make a great deal for the American people," Bessent said in a briefing at the White House.

- 'Not satisfied' -

US sources had earlier confirmed a report by the Axios news outlet that the MOU would open the Strait of Hormuz but leave Iran's nuclear program unresolved, with further talks to follow on the issue.

Axios reported that the 60-day deal will say that shipping through the Strait of Hormuz will be unrestricted, with no tolls or harassment and with Iran having to remove all mines within 30 days.

The US will in return lift its naval blockade on Iran's ports, but only in proportion to how much commercial shipping is restored, it said.

The memorandum will also contain an Iranian commitment not to pursue a nuclear weapon, Axios said. Among the first issues to be addressed is how to dispose of Iran's stocks of enriched uranium.

Trump said during a cabinet meeting on Wednesday that he was "not satisfied" yet with Iran's offers and warned that he could "finish the job" militarily.

Trump has repeatedly insisted that Iran cannot have a nuclear weapon under any deal to end the war that the US and Israel launched on February 28. A fragile ceasefire has been in place since April 7.

Washington and Tehran both accused each other of violating the truce earlier on Thursday following an exchange of fire.

But Treasury chief Bessent insisted the ceasefire remained in effect.

"President Trump always prefers a peace deal, so everything we have done thus far has been defensive, and at present that's what we'll continue doing," he added.

F.Carias--PC