US President Donald Trump announced on Wednesday that a memorandum of understanding (MoU) between the United States and Iran could be signed within the next 48 hours, marking a significant diplomatic breakthrough after months of tension.
Trump's Statement in Paris
Speaking to reporters after arriving in Paris en route to Versailles for a dinner with French President Emmanuel Macron and First Lady Brigitte Macron, Trump expressed confidence in the ongoing negotiations with Tehran. When asked about the timeline for the agreement, he replied, "Over the next, I'd say, 48 hours," indicating that the document could be finalized within that period.
US Military Presence in the Gulf
Trump also stated that the United States would maintain a military presence in the Gulf for an extended period, even after the agreement is signed. Asked how long US forces would remain, he said, "Probably awhile... I would say a little while to see how it all goes. I think it's going to go well, but we'll see."
Background and Key Factors
Earlier in the day, Trump attributed the emerging agreement to a long-term strategy, emphasizing that the deal would not have been possible without his decision to authorize the killing of Iranian General Qassem Soleimani in January 2020. "All the tough guys don't realise that this wasn't a 3-month deal. This was years in the making. You know why? Because I was the one who killed General Soleimani," Trump said during a press conference on the sidelines of the G7 Summit. He added, "If I didn't kill General Soleimani, we probably wouldn't be talking right now about this deal, because he was a mad genius. They were never able to replace him."
Market Impact
Trump also noted that optimism surrounding the prospective agreement had boosted investor confidence and contributed to strong market performance. "With this announcement, or close to it, as people started to think it was going to happen when Iran was making some very positive statements, the stock market has surged to record highs," he said, adding that oil prices had also fallen sharply.
Proposed Framework Details
According to preliminary details reported by Fox News, the proposed framework includes reopening the Strait of Hormuz, ending the American blockade, initiating a 60-day negotiation period over Iran's uranium enrichment programme, sanctions relief measures, and a structured ceasefire arrangement involving Israel and Hezbollah.
