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US, Iran Prepare for Deal Signing With Both Claiming Victory
Posted
June 16, 2026
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5:18Now PlayingThe US and Iran are preparing to formally sign their interim peace deal in Switzerland on Friday, with both sides claiming victory and oil traders and shippers unsure over how quickly the Strait of Hormuz will be reopened.
The text of the so-called memorandum of understanding — a 14-point document that should lead to a two-month ceasefire extension and the start of negotiations over Iran’s nuclear program — has yet to be published. A senior US official said it’s possible that happens in the next two days, ahead of the signing ceremony in Geneva. Vice President JD Vance is expected to head the American delegation, while Iran will likely be represented by Parliament Speaker Mohammad Bagher Ghalibaf.
Josh Wingrove, Bloomberg News Senior Washington Correspondent, joins from Geneva with the latest.
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