Iran Says U.S. Talks to Start the Day MOU Is Signed

Iran said it will begin follow-up talks with the U.S. on a final agreement immediately after the two sides sign a memorandum of understanding, or MOU.

Walter Bloomberg reported on June 16 that Iran’s foreign minister said negotiations between Washington and Tehran are scheduled to begin on the same day the MOU is signed.

After the first stage is completed, the two sides will hold an additional 60 days of negotiations to reach a final agreement.

The final deal will include Iran’s nuclear program and the lifting of sanctions on Tehran, he added.

The remarks came after the U.S. and Iran said they had completed the signing of the MOU.

The U.S. had earlier said the MOU lays out a basic framework for restoring normal conditions in the Strait of Hormuz, limiting Iran’s nuclear program and establishing an international inspection system.

Still, the U.S. and Iran remain apart on some issues, including the timing of sanctions relief and the scope of economic compensation.

Markets are increasingly hopeful that the MOU could mark the start of easing tensions between the two countries. But substantial negotiations still remain before a final deal is reached on the core issues of the nuclear program and sanctions relief.