Vice President JD Vance said Thursday that the U.S. and Iran were "very close" to a memorandum of understanding (MOU) that would extend the ceasefire by 60 days, reopen the Strait of Hormuz, and launch talks on limiting Tehran's nuclear program.
Why it matters: The signing of the MOU would be the most significant diplomatic breakthrough since the war started, but a final agreement tackling President Trump's nuclear demands would require further intensive negotiations.
