Iran media says that memorandum of understanding draft still not yet finalised

• The draft includes US commitment to lift sanctions, withdraw its forces from around Iran
• US to cancel oil sanctions and release Iran's frozen funds
• Also includes commitment for the US to lift its naval blockade
• The memorandum of understanding also includes reopening of Strait of Hormuz
• Final negotiations after this will focus on nuclear and economic issues
• It will exclude discussions about Iran's missile programme

If this is what Iran continues to expect from a deal with the US, then let's be real here. A deal is never going to happen unless we get a massive TACO moment from Trump.

If the US budges on sanctions, then what difference does this make compared to the JCPOA? Besides, Trump has already reaffirmed that the naval blockade will remain in place regardless. Just those two alone is enough to see the memorandum of understanding fall apart and if not challenged strongly at some point upon its 60-day implementation.

The headline source above reaffirms that this version of the draft "still requires finalisation by relevant authorities".

Well, it's certainly not going to fly with the US for sure. That unless I'm missing a headline that Trump has chickened out once again.

And if this is the kind of position difference that we're still seeing between the two sides, we are surely no closer to a deal than we were last month.

And even if we are to believe that these would be the terms for a deal, that just means an entire reset to where we were on 27 February. What was the point of this whole war then!??!?! Geez.

This article was written by Justin Low at investinglive.com.