US–Iran nuclear deal deadline looms with no agreement signed yet

A deal would reshape Middle East stability, oil supply and global security. No direct Australian action required, but oil prices and regional travel risk are real downstream effects.

In a nutshell: A June 2026 Memorandum of Understanding between Washington and Tehran established a 60-day negotiating window — ending around mid-August — covering nuclear limits, enrichment levels, facility inspections and sanctions relief. As of 1 August no qualifying final deal had been signed. The US Treasury has confirmed a sanctions waiver on Iranian crude, signalling diplomatic momentum, but core disagreements persist.