Image for representation purposes only Conflicting reports have emerged regarding a potential breakthrough to end the U.S.-Iran war. President Donald Trump announced that a “great settlement” had been reached and an agreement would be signed soon in Europe. Trump also called off the planned strikes on Iranian oil infrastructure, which led to a fall in global oil prices by more than 4%. However, Iran has downplayed the certainty of the deal. Foreign Ministry spokesman Esmaeil Baqaei clarified that while the text of a draft memorandum of understanding (MoU) is “largely finalised,” Tehran has not yet reached a “final conclusion.” Iranian state media blamed the U.S. for causing instability in negotiations and noted that the agreement still requires formal government approval. Despite the mixed messaging, sources close to the diplomatic efforts indicate that a formal MoU could be signed next week, kicking off a 60-day negotiation period. The proposed 14-point framework reportedly includes a 60-day extension of the current ceasefire and lifting the U.S naval blockade of Iranian ports. It also entails the complete reopening and demining of Hormuz in a month and Iran’s commitment to freeze its uranium reserves and dismantle its nuclear sites for atleast two decades. Washington could waive certain sanctions, which would enable Iran to sell oil and also get its $24 billion in frozen funds and assets. Most of these assets would reportedly be unfrozen before the secondary negotiations begin, reports said. Israeli Prime Minister Benjamin Netanyahu has discussed the proposal with President Trump and expressed satisfaction at certain points, such as Iran dismantling its nuclear infrastructure and cutting off regional proxy funding. However, the security situation remains tense as an Iranian hacker group has claimed to have breached the FBI drones protecting the World Cup, while the U.S forces intercepted two Iranian drones launched towards ships