BREAKING: The US100 extends its gains following the Axios report 🚀

Axios’s reports of an impending agreement between the US and Iran clearly electrified the financial markets. The US100 accelerated its gains in response to the prospect of geopolitical de-escalation in the Middle East. Sentiment across the broader market improved immediately, with investors interpreting this news as a sign of reduced global risk.

According to two US officials and two other sources familiar with the matter, the White House believes it is close to reaching an agreement with Iran on a one-page memorandum of understanding aimed at ending the dispute and establishing a framework for more detailed negotiations on the nuclear programme, Axios reported. 

What did Axios report?

The United States and Iran are on the brink of a historic breakthrough — for the first time since the outbreak of the war, both sides are close to signing a preliminary agreement that could formally end the conflict. Behind the scenes, Jared Kushner and Steve Witkoff are working on the diplomacy, conducting talks both directly and through intermediaries, and Iran is expected to present its responses to key points within the next 48 hours. The one-page, 14-point memorandum envisages an Iranian moratorium on uranium enrichment lasting between 12 and even 20 years, depending on how the negotiations conclude, in exchange for the gradual lifting of US sanctions and the release of billions of dollars in frozen Iranian assets scattered across the globe. A separate, highly sensitive issue is the Strait of Hormuz, through which nearly a fifth of the world’s oil supplies pass, and both sides have agreed to its gradual opening during the 30-day period of substantive negotiations. The most groundbreaking point, however, is the report that Iran would agree to export highly enriched uranium from the country, perhaps even to the United States, which until recently was absolutely unacceptable to Tehran. The entire document is, however, shrouded in great uncertainty, as most of the provisions will only come into force after the final treaty is signed, the Iranian leadership is internally divided, and Secretary Rubio, whilst cautiously optimistic, has described some Iranian leaders as ‘crazy’, which aptly captures the atmosphere of these talks.

Full article here: U.S. and Iran closing in on one-page memo to end war, officials say

Source: xStation