This is only the beginning of a process. Sticking points include the ceasefire scope, frozen funds, and sanctions relief. The US has said a peace agreement is imminent 38 times in recent months, so caution is warranted.

Vice President Vance said the foreign minister and speaker of Iranian parliament will be part of future negotiations. Critical for Iran is the future of frozen funds and what kind of sanctions lifting occurs.

The document will likely be a list of issues for discussion, not detailed 14 points. Trump frames this as different from JCPOA, involving Qatar, Pakistan, Oman, Turkey, Egypt, Saudi Arabia.

The JCPOA was not agreed to by Israel, UAE, Saudi Arabia. This agreement is seen as something multiple regional players have a vested interest in.

Netanyahu is up for reelection and opponents say Trump is dictating Israeli foreign policy. The reservation from Israel is really over Lebanon, which both Iran and Israel see as strategically important. If the ceasefire includes Lebanon, Netanyahu will be seen as weak.

In 2006, Hezbollah allegedly won the war against Israel. The strategic interest of southern Lebanon is important for both Iran and Israel.

For Washington: a peace agreement seen as stronger than JCPOA. For Tehran: unclear. Trump may declare a win, but sustained win requires no further conflict, no US casualties, and stable oil prices. The US faces midterm elections.

To get to JCPOA took months/years of trust-building. That trust hasn't been established. The way Trump measures a win and the way Americans measure a win are very different.