Main Points

President Donald Trump described the nascent U.S.-Iran nuclear agreement as a “wall” against Tehran’s pursuit of a nuclear weapon, framing the talks as a breakthrough after years of tension. Speaking to reporters, Trump said the deal would impose strict limits on Iran’s enrichment activities and stockpiles, though he did not disclose specific terms. The remarks come as U.S. and Iranian negotiators finalize a memorandum of understanding after weeks of indirect talks mediated by European and Middle Eastern allies.

According to people familiar with the matter, the framework is expected to include a staged process: a 60-day timeline for a final treaty, followed by phased sanctions relief and the resumption of some Iranian oil exports. Iran’s Foreign Ministry confirmed progress but stressed that no final text has been signed. “We are close, but not there yet,” a ministry spokesperson said, declining to elaborate on disputed points.

Market reaction was mixed. Brent crude oil futures fell 1.8% on the headlines, as traders priced in the potential for increased Iranian supply. A formal agreement could add 1-2 million barrels per day to global markets, pressuring prices already under strain from weak demand. Energy analysts caution, however, that even modest sanctions relief would take months to materialize.

Skepticism and scrutiny

The deal faces significant hurdles on both sides. In Washington, Republican lawmakers have expressed bipartisan—and skeptical—views, demanding strict verification measures. “We’ve been burned before,” a senior Senate aide said, referring to the 2015 Joint Comprehensive Plan of Action (JCPOA), which Trump withdrew from in 2018. Hardliners in Tehran have also pushed back, arguing that any concessions would embolden Western pressure.

Regional implications are complex. Saudi Arabia and Israel have both signaled unease, with the Israeli defense minister vowing to “defend our security red lines.” Still, the Trump administration has stressed that the deal would include provisions for monitoring Iran’s ballistic missile program and regional proxies—issues omitted from prior accords.

What’s next

Talks are scheduled to continue in Oman next week, with sources saying a final announcement could come by late May. Success would mark a major diplomatic win for Trump, who has sought to avoid military confrontation while fulfilling campaign promises to restore “maximum pressure” on Iran. Failure, however, could reignite tensions and push Tehran closer to weapons-grade enrichment—a risk the president’s “wall” metaphor aims to counter.

Correction: An earlier version of this article misstated the venue of next week’s talks. Negotiations are scheduled for Oman, not Switzerland.