U.S. and Iran near agreement on memorandum of understanding

President Trump told reporters in the Oval Office on Thursday that the U.S. and Iran are close to signing an agreement. "We just made a great settlement of the war with Iran. And we're going to be subject to finalization of documents we should get done over the next few days and probably have a signing, maybe in Europe," he said.

The president added that the Strait of Hormuz would open once the deal is signed and that the U.S. would lift its naval blockade as part of the agreement.

Israeli strikes began on Feb. 28.

A two-week ceasefire followed, but initial talks in Pakistan in April did not produce a deal. The ceasefire was later extended indefinitely, and the blockade remained in place while negotiations continued.

Qatari involvement Israeli Prime Minister Benjamin Netanyahu spoke with President Trump on Thursday about the memorandum of understanding. Netanyahu's office said the final agreement should include removal of enriched material, limits on missile production, and an end to Iran's support for regional proxies.

President Trump also spoke by phone with the Emir of Qatar on Thursday. The Qatari government said the understandings had the approval of all concerned parties and that final procedures were being completed ahead of a signing announcement.