An agreement to keep talking. And to reopen the world’s most vital shipping lane.

That’s the US-Iran MOU in a nutshell. And that’s the kind of unequivocal “win” you can expect when history’s greatest dealmaker takes a run at solving one of the world’s most vexing geopolitical quandaries: How to address the Iranian nuclear threat.

On the three-month anniversary of Ali Khamenei’s assassination — a day when the US military struck IRGC targets and the Guards responded with attacks on a US base in Kuwait — Axios reported that negotiators for the two sides found enough common ground to extend the tenuous ceasefire for 60 days, a period during which the fate of Iran’s enriched uranium will be debated.

“This is an agreement to get everybody to the table,” one of Axios‘s sources said, of the MOU. “We will work out the details in the negotiations.”

Go ahead, chuckle wryly. Because sarcastic derision’s certainly warranted. All this trouble to agree to keep talking. This is virtually identical to the tariff extension Trump pursued last year when China stood firm, and then pushed back, in the face of Trump’s threats to impose a de facto trade embargo.

Apparently, the Iran MOU was ready to sign on Tuesday, but Trump told envoys he “want[ed] a couple of days to think about it.” And also to talk about it, on social media, during televised cabinet meetings and so on.

The specifics, such as they are, call for “unrestricted” shipping through the Strait and the removal of any and all Iranian mines, a process which could take weeks. The US will lift the blockade of Iran’s ports commensurate with the free movement of commercial vessels through the waterway.

In the MOU, Iran will apparently reiterate that it doesn’t seek a nuclear bomb, and the agreement will include a provision addressing “a mechanism” for the delivery of humanitarian assistance to the country.

Looking ahead, two months of negotiations will center around the “disposal” of the regime’s near-bomb-grade uranium as well as issues pertaining to the country’s right to enrich.

Also on the table during talks: The lifting of US sanctions and the release of tens of billions in frozen Iranian assets.

At first blush — and given the vacuous nature of all Trump MOUs, I suspect a surface-level analysis is all you need — this arrangement accomplishes almost nothing and resolves even less than that.