The US expects a response from Iran as soon as today, according to a regional source cited by CNN.
The United States President Donald Trump told Fox News that Iran has one week to respond to the US’s proposed peace deal in a Wednesday interview.
"They want to make a deal. We've had very good talks over the last 24 hours, and it's very possible that we'll make a deal," Trump told reporters in the Oval Office on Wednesday, saying later, "it'll be over quickly."
According to a regional source cited in a CNN report, the US expects a response from Iran as soon as today (Thursday) regarding the key points of a one-page, 14-point memorandum of understanding, though this report has not been confirmed by White House officials.
"We will close this very soon. We are getting close," a Pakistani source involved in the peace efforts told Reuters on Wednesday, with Pakistan's Foreign Minister adding that the country is working to ensure the agreement would lead to a "permanent end" to the conflict.
An Iranian Foreign Ministry spokesperson told CNBC later on Wednesday that the proposal was currently being "evaluated."
The one-page document would reportedly require an end to hostilities and the start of a 30-day negotiation period.
Later, The Jerusalem Post learned that Prime Minister Benjamin Netanyahu held consultations and is in contact with senior Israeli government officials regarding developments in the negotiations. Israeli officials said they that they were unsurprised by the developments.
Key points include both countries lifting their respective blockades on the Strait of Hormuz, according to an Axios report citing two US officials. The lifting of the blockades would come in exchange for a US removal of sanctions and an Iranian commitment to a 15-year moratorium on uranium enrichment.
Iran would additionally agree to transfer its stockpile of highly enriched uranium outside of its borders, potentially to the US.
The document is the closest the two countries have come to an agreement since the war began on February 28, Axios reported, emphasizing that no agreement has been finalized yet.
Agreement contingent on future negotiations
The report also noted that several key terms in the potential agreement remain contingent on a future final comprehensive agreement.
Negotiations on the matter between US and Iranian officials are currently being conducted both directly and indirectly, with Steve Whitkoff and Jared Kushner representing the American team.
Axios cited a US official saying that further negotiations may take place in either Islamabad, Pakistan, or Geneva, Switzerland.
US Secretary of State Marco Rubio said on Tuesday that the negotiations with Iran are "highly complex and technical."
"We have to have a diplomatic solution that is very clear on the topics they are willing to negotiate on and the extent of the concessions they are willing to make at the front end in order to make it worthwhile," said Rubio, adding that some of Iran's top leaders are "insane."
Iran yet to give response to latest offer
Axios also reported that an Iranian official called the proposal "more of a wishlist than a reality," while the semi-official Tasnim news agency reported on Wednesday that Iran had yet to send its response to the Pakistani mediators.
According to Tasnim, the text contained " unacceptable clauses," and was described as propaganda "aimed at justifying Trump's retreat from his recent hostile action."
Reuters contributed to this report.
