President Trump said on Friday that he's convening his national security team in the White House Situation Room to make a final decision about the agreement reached between U.S. and Iranian negotiators.

Why it matters: The signing of the memorandum of understanding (MOU) would be the most significant diplomatic breakthrough since the war started, but a final agreement tackling Trump 's nuclear demands would require further negotiations.

The text of the MOU — which involves a 60-day ceasefire extension and the reopening of the Strait of Hormuz — was largely agreed as of Tuesday, but Trump told the mediators he needed more time to make a decision.

What he's saying: In a Truth Social post on Friday morning, Trump laid out the main elements in the deal that he wants to emphasize and seemingly suggested he was about to accept it.

He stressed Iran must agree that "they will never have a Nuclear Weapon or Bomb."

He claimed the Hormuz Strait must be immediately open without tolls, for "unrestricted shipping…