Geneva Emerges as Likely Venue for Landmark Agreement
WASHINGTON/DUBAI/PARIS: A memorandum aimed at ending the conflict between the United States and Iran could be signed as early as Sunday, according to diplomatic sources, with Geneva emerging as the most likely location for the high-level meeting.
Officials familiar with the negotiations said both sides continue to finalize the language of the document. However, Iran has reportedly maintained its position that any agreement must also include an end to hostilities in Lebanon, where fighting involving Hezbollah and Israel remains a major regional concern.
Sources indicated that negotiators hope to complete the final text by Saturday, paving the way for a signing ceremony involving US Vice President JD Vance and Iranian Parliament Speaker Mohammad Baqer Qalibaf.
US President Donald Trump said on Thursday that he had canceled planned military strikes against Iran because an agreement was now close to completion.
Draft Framework Includes Sanctions Relief and Economic Measures
According to reports, the proposed framework includes the suspension of sanctions on Iranian oil exports, the release of frozen Iranian assets and a halt to military operations across multiple fronts, including Lebanon.
The draft reportedly postpones discussions on nuclear issues for future negotiations. While Washington seeks guarantees that Iran will never develop nuclear weapons, Tehran insists its nuclear programme remains peaceful.
Iranian media reports also claim the proposed arrangement includes commitments related to the reopening of the Strait of Hormuz, the withdrawal of certain US military deployments around Iran and a reconstruction initiative for Iran’s economy.
Some reports suggest reconstruction assistance could exceed $300 billion, although no official confirmation has been issued by Washington.
Regional and International Implications Remain Unclear
Financial markets reacted positively to news of the potential agreement, with global equities rising and oil prices falling amid expectations of reduced regional tensions.
Despite the optimism, uncertainty remains. Iranian officials have stated that several key issues are still under discussion, while Israeli authorities have emphasized that Israel is not a party to any memorandum between Washington and Tehran.
Meanwhile, diplomatic observers caution that previous announcements of imminent agreements have not always produced final deals. As negotiations continue, regional governments and international markets remain focused on whether the latest diplomatic effort can deliver a lasting framework for stability.
