US-Iran Draft Deal Delayed by Hold-Up in Iranian Leadership Approval

US and Iranian negotiators have reached a tentative agreement, but a final deal is being delayed because Iran’s top leadership has not yet approved it, according to a report. Markets are closely watching the direction of the talks between Washington and Tehran.

Walter Bloomberg reported on May 28 that the Iranian negotiating team led by Abbas Araghchi and the US delegation headed by Steve Witkoff had agreed on a draft proposal.

The proposal has not received approval from Iran’s top leadership, the report said. In particular, Mojtaba Khamenei has not signed off on it, a factor that is also affecting the timing of final approval by US President Donald Trump.

The United States and Iran have recently continued talks on extending the ceasefire, restoring normal conditions in the Strait of Hormuz and limiting Iran’s nuclear program. But key differences remain over limits on uranium enrichment and the scope of sanctions relief.

Market participants say the outcome of the US-Iran talks could influence volatility across global financial markets, including international oil prices and dollar flows. A final agreement remains uncertain because approval from the top leadership on both sides is still pending and political variables remain in play.