The United States and Iran are closing in on a one-page memo to end their war, a Pakistani source involved in the peace efforts told Reuters on Wednesday, confirming an Axios report citing two U.S. officials.
“We will close this very soon. We are getting close,” the source said, with Pakistan’s foreign minister adding that the country is working to ensure the agreement would lead to a “permanent end” to the conflict.
According to Axios, the U.S. expects a response from Iran within 48 hours regarding the key points of a one-page, 14-point memorandum of understanding. An Iranian Foreign Ministry spokesperson told CNBC later on Wednesday that the proposal was being “evaluated.”
They probably have to consult with China and Russia. Iran is basically their proxy.
President Trump said we will get their uranium.
“Look, and this is very simple. Iran cannot have a nuclear weapon because, as tough as they are, we want to keep them alive,” the president said during remarks at the White House. “Iran cannot have a nuclear weapon, and they won’t.” And they’ve agreed to that, among other things.”
President Trump also emphasized that the United States is seeking control of Iran’s enriched uranium stockpile, which officials say includes more than 900 pounds of material that could potentially be further refined.
“We’re going to get it,” he told reporters.
Yesterday, Bret Baier reported:
Bret Baier: “I talked to the President on the phone today. He did sound cautiously optimistic and said it could happen within a week.” pic.twitter.com/0gwIrVGZtA
— Breaking911 (@Breaking911) May 7, 2026
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Israeli journalist Amit Segal highlights one key point that has drawn concern: negotiations are still underway over the duration of the uranium enrichment freeze. Three sources said the freeze would last at least 12 years, and one source estimated the final outcome would be 15 years. Trump said the U.S. would extract their uranium.
In addition, the U.S. includes in the agreement a clause stating that any Iranian violation of the uranium enrichment regime will extend the freeze period. Iran would accept UN inspections, and the U.S. would ease sanctions and release frozen assets.
Commentator Hugh Hewitt says, “This would be a terrible deal. I hope the terms of any deal would be significantly stricter: no enrichment, ever. No more proxies. Turn on the internet. President Trump never gives up leverage. Why would he start now with #Iran on the ropes?”
Writer Marc Thiessen also weighed in. “Here’s what Iran sees: After being warned not to, they hit the UAE and fired on a U.S. ship, and we didn’t respond. Instead, we suspended the SoH mission. They take that as a weakness; they don’t think Trump is willing to bomb them again; they think they have leverage. He needs to prove them wrong.”
Iran does have leverage, and the president clearly doesn’t want to bomb them any longer. Is that really a weakness? The people had a chance to rise up.
The moment he signs, oil drops along with inflation. Rate cuts accelerate when he signs, and markets explode. It’s only an interim deal to get the Strait open and stop the attacks. Iran has planted mines in the Strait. At least 1600 vessels are waiting to cross.