A draft U.S.-Iran peace memorandum is expected to be signed on Sunday in Geneva, with officials working to finalize its wording by Saturday, according to Reuters and other reports citing sources. The memorandum is described as covering both sanctions relief and economic measures requested by Iran, as well as steps related to reducing or halting hostilities across multiple fronts.
A senior Iranian source, speaking to Reuters, says the draft would waive sanctions on Iran’s oil and unfreeze billions of dollars of Iranian funds. The same account adds that the agreement would require a cessation of hostilities on all fronts, including in Lebanon. Another Western source cited by Reuters indicates the focus of the final wording includes sanctions relief and the unfreezing of assets, alongside a broader ceasefire framework.
Reuters also reports that the aim of completing the text in time is to allow Vice President JD Vance and Iran’s parliament speaker Mohammed Baqer Qalibaf to sign the memorandum in Geneva on Sunday.
