A memorandum of understanding is anticipated to pave the way for discussions on the most divisive matters, such as Iran's nuclear program and sanctions.
Posting on social media on Sunday, U.S. President Donald Trump wrote: “This Great Deal will bring Peace and Security to the whole Region.”
Representatives from the opposing nations stated they would formally sign a document in Switzerland on Friday, which Iran’s Supreme National Security Council referred to as a “memorandum of understanding.”
While the accord does not constitute a final settlement, it is anticipated to create a path for negotiations on the most challenging issues between the two parties, including Iran’s nuclear activities and the sanctions imposed on the country.
Nevertheless, Tehran has set preconditions for any potential future talks, and Trump has cautioned about the possibility of renewed military action.
What both sides say about the accord
The complete details of the preliminary peace agreement have not yet been officially disclosed, but both the U.S. and Iran have provided their own descriptions of its content.