Iranian Media Says Review and Decision-Making Not Yet Complete, Denies Signing MOU on Sunday
Miles Bennett
The U.S. and Iran are nearing a memorandum to reopen the Strait of Hormuz, but Tehran promptly denied any Sunday signing — a gap persists between diplomatic signals and a done deal, while oil prices have already fallen as traders reprice Middle East supply risk.
How far along is this deal?
Bloomberg reports the two sides are close to signing a memorandum of understanding — a written statement of intent, not a final peace agreement.
The framework covers three points: a 60-day extension of the U.S.–Iran ceasefire, Iran reopening the Strait of Hormuz, and Washington lifting its blockade on Iranian ports.
This means → even if signed, this is a framework document. A final peace deal remains far off.
Why did Iran push back?
One G7 official said a signing could come as early as Sunday, possibly in Geneva.
Iran's NoorNews then flatly denied both the Sunday timeline and the Geneva venue, citing an incomplete internal review and decision process.
In plain terms = the G7 side signaled "almost there," and Tehran hit the brakes — the two sides are not on the same clock.
What did Trump say, and how did markets react?
Trump announced on the evening of June 11 that he had called off an imminent strike on Iran and said the deal was "almost done."
Oil fell and equities rose; energy prices dropped further on June 12.
This means → traders are already repricing Middle East supply risk as if the deal will land. If talks stall again, that repricing could reverse.
Will the deal actually close?
Multiple officials caution that Iran has not confirmed it is ready to attend a signing ceremony.
Communication between Tehran and Washington has been slow since the war began in February.
A G7 official confirmed that signs of an approaching deal are growing — but warned that previous diplomatic progress never actually materialized.
This reflects a recurring pattern: signals keep coming, but a final signature never arrives.
Content is for reference only, not financial advice.