The United States and Iran have reportedly reached a tentative agreement on a 60-day memorandum of understanding aimed at extending the ceasefire and initiating formal negotiations regarding Tehran’s nuclear program. This agreement, however, is pending final approval from President Donald Trump, who has requested a few days to deliberate on the terms. The proposed deal includes significant commitments from both sides, such as a ceasefire extension, guarantees for commercial shipping through the Strait of Hormuz, and limited sanctions waivers for Iranian oil sales. Additionally, it outlines discussions on Iran’s nuclear capabilities and humanitarian aid mechanisms. Despite these developments, military tensions persist, with recent skirmishes between US and Iranian forces underscoring the instability of the ceasefire. Officials express caution, noting that unresolved issues related to uranium enrichment and sanctions relief could hinder progress. The involvement of Qatari mediators has been crucial in advancing negotiations, particularly concerning Iran's frozen financial assets. Should the negotiations fail within the 60-day timeframe, US officials have indicated that all options, including renewed pressure, remain viable.