U.S. officials say “progress has been made” in yesterday’s talks in Geneva. Tehran claims “understandings have been reached.” Oman’s foreign minister speaks of “serious efforts to define guiding principles for a final deal.”

Before we declare peace in the Middle East in our time, let’s decipher the diplospeak.

Nothing substantial has been settled. Nuclear enrichment was likely discussed, but the three core issues—ballistic missiles, the proxy network, and the regime’s killing of protesters—do not appear to have been put on the table. Trump isn’t going to ride to his Nobel Prize on a unicycle. If he’s making a deal, there had better be more than one concession.