The US and Iran are close to reaching a peace agreement, US stock futures rise, and the Japanese and South Korean stock markets open higher
BlockBeats News, May 26th. President Trump of the United States stated that Iran's enriched uranium will be immediately transferred to the US for destruction or processed within Iran under international supervision. Axios believes that this indicates a softening of the US stance on the enriched uranium stockpile issue, moving closer to Iran's previous demands. Earlier, Trump stated that negotiations with Iran on a temporary agreement to extend the ceasefire and reopen the Strait of Hormuz were "progressing smoothly," indicating that the US and Iran are close to reaching an agreement.
Several media outlets have revealed the potential content of the US-Iran draft agreement. Al Jazeera reported that the draft agreement allows for the free passage through the Strait of Hormuz and the removal of mines; navigation through the Strait of Hormuz must be restored within 30 days. The agreement stipulates that the US commits to easing the blockade on Iranian ports; the agreement allows Iran to sell and export oil, with a phased consideration of easing sanctions on Iranian oil. Nikkei News reported that the ceasefire agreement reached in early April will be extended by 60 days. During this two-month ceasefire period, both parties plan to negotiate on the Iranian nuclear program. Al Jazeera reported that Qatari mediation has facilitated a US-Iran understanding on Iran's frozen assets, and both sides may soon formally announce an agreement. An announcement of an agreement between the US and Iran is likely to be made tomorrow.
Improved risk sentiment boosted the market. According to Bitget data, S&P 500 futures rose by 0.62%, and Nasdaq 100 futures rose by 0.85%. The stock markets in Japan and South Korea opened higher today, with the South Korean KOSPI index breaking through 8000 points and surging over 3% intraday. The Nikkei 225 index opened with a 0.23% increase, reaching 65,305.16 points.
