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Posted Zero Hedge

Summary

  • Per Axios: "U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear program, but President Trump has yet to give it his final approval."
  • Unconfirmed reports of Ayatollah denial of MOU.
  • Saudi state media reports Pakistan is seeking to convince Washington to allow transfer of Iran's highly enriched uranium to China (Al Hadath).
  • Iran launches ballistic missile on US base in Kuwait, which was reportedly intercepted by Kuwaiti forces.
  • Fresh launch is retaliation for prior evening's skirmish involving US intercepting Iranian drones, and targeting coastal launch location.
  • Stalled talks still stuck on nuclear issue: Iran insists it will keep its enriched uranium as a matter of national soveriegnty.

*  *  *

Reports that Ayatollah has Not Accepted MOU

And very quickly on the heels of the Axios report, there chatter that the Iranian side has not actually approved:

Reports Mojtaba Khamenei Did Not Approve Deal - i24 @AmichaiStein1https://t.co/cUVMLI3YDy pic.twitter.com/K1PiYumQLU— LiveSquawk (@LiveSquawk) May 28, 2026

Oil Tumbles on Reported MOU Breakthrough

Per Barak Ravid: "U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear program, but President Trump has yet to give it his final approval," two US officials have told Axios. This could be the hugest diplomatic breakthrough yet, after weeks of stalled talks, but it awaits President Trump's.

"U.S. officials said the deal terms were mostly agreed as of Tuesday, but both sides still needed to get approval from senior leadership," Axios notes by way of caveat. According to some emerging details from the report:

  • The U.S. officials claimed the Iranians later came back and said they had the necessary approvals and were prepared to sign. Iran has not confirmed that.
  • The U.S. negotiators briefed Trump on the details of the final deal and he asked to take a few days to think about it.
  • "The president relayed to the mediators that he wants a couple of days to think about it," a U.S. official said.

Key question: is Iran's high enriched nuclear material part of the MOU? This could put it in jeopardy.

Oil tumbles on the headline...

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