The United States and Iran are close to signing a proposed agreement that would extend the current ceasefire for 60 days, reopen the Strait of Hormuz and allow Iran to resume oil exports while negotiations continue on Tehran’s nuclear programme, as per US media outlet Axios.
According to the report, the draft memorandum of understanding (MOU) would allow ships to pass through the Strait of Hormuz without tolls during the 60-day period, while Iran would clear mines deployed in the waterway to restore shipping traffic.
In return, the US would lift its blockade on Iranian ports and issue sanctions waivers enabling Iran to sell oil freely, Axios reported, citing a US official.
The proposed deal would include talks on curbing Iran’s nuclear activities.
Key points of the proposed deal
60-day ceasefire extension:
- The US and Iran would sign a 60-day memorandum of understanding (MOU), which could be extended if both sides agree.
Strait of Hormuz to reopen:
- Iran would reopen the Strait of Hormuz and remove mines deployed in the waterway to allow free movement of ships and oil tankers.
No tolls on shipping:
- Commercial vessels would be allowed to pass through the Strait without tolls or restrictions.
US to ease economic pressure:
- In return, the US would lift its blockade on Iranian ports and issue sanctions waivers so Iran can freely export oil.
‘Relief for performance’ model:
- The Trump administration would only provide sanctions relief and unfreeze Iranian funds after Tehran makes verifiable concessions.
Nuclear commitments by Iran:
Iran would commit to:
- Never pursuing nuclear weapons
- Negotiating a suspension of uranium enrichment
- Discussing removal of its highly enriched uranium stockpile
Further nuclear negotiations during truce:
- Both sides would continue talks during the 60-day period on a broader nuclear agreement and permanent sanctions relief.
US troops to remain in region temporarily:
- American forces deployed in recent months would stay in the Middle East during the negotiation phase and withdraw only after a final deal.
Israel-Hezbollah conflict to end:
- The draft agreement reportedly includes an understanding that fighting between Israel and Hezbollah in Lebanon would stop.
Israel retains right to act against Hezbollah threats:
- According to US officials, Israel would still be allowed to respond if Hezbollah attempts to rearm or launch attacks.
Possible broader reset in relations:
- If Iran accepts Trump’s nuclear demands, the US could move toward restoring economic ties and helping Iran reintegrate economically.
Nuclear talks remain central
The proposed agreement reportedly includes commitments from Iran that it would never pursue nuclear weapons and would negotiate over suspending uranium enrichment and removing its stockpile of highly enriched uranium.
As per Axios, Iran has already provided verbal commitments through mediators regarding the concessions it may be willing to make on enrichment and nuclear material.
The development comes after The New York Times reported that one key element of the proposed agreement is an “apparent commitment” by Tehran to give up its stockpile of highly enriched uranium, citing two US officials.
According to the report, details on how Iran would surrender the uranium stockpile would be discussed in a later round of nuclear negotiations. Iran currently possesses around 970 pounds of uranium enriched to 60%, according to the International Atomic Energy Agency.
Iranian officials had earlier resisted including the uranium issue in the initial phase of talks and wanted it delayed to later negotiations.
Trump says deal close, Iran cautious
US President Donald Trump said on Saturday that a “largely negotiated” peace memorandum was nearing completion and claimed the Strait of Hormuz would reopen under the deal.
“Final aspects and details of the Deal are currently being discussed, and will be announced shortly,” Trump wrote on Truth Social.
However, Iran’s Fars news agency disputed Trump’s claim regarding the Strait, saying Iran would continue to manage the waterway and describing Trump’s remarks as “inconsistent with reality”.
Iranian foreign ministry spokesperson Esmail Baghaei said “there are still issues that need to be discussed through mediators,” while stressing that Tehran’s priority remained ending threats of renewed US attacks and addressing the conflict in Lebanon.
Pakistan-led mediation effort
Pakistan has emerged as a key mediator in the talks. Pakistan Army chief Asim Munir recently met senior Iranian leaders, including top negotiator Mohammad Baqer Qalibaf and Foreign Minister Abbas Araqchi, in Tehran.
Leaders from Saudi Arabia, Qatar, the UAE, Egypt, Turkey and Pakistan backed the emerging framework during a conference call with Trump on Saturday.
The proposed framework is expected to unfold in stages, beginning with formally ending the war, reopening the Strait of Hormuz and launching a 30-day negotiation window for a broader nuclear agreement.
Axios further reported that US forces mobilised in the region would remain deployed during the 60-day period and would withdraw only if a final agreement is reached.
Concerns from Israel, global oil markets
Israeli Prime Minister Benjamin Netanyahu reportedly raised concerns over parts of the proposed agreement during a call with Trump, particularly provisions linked to ending the Israel-Hezbollah conflict in Lebanon, according to Axios.
The agreement is being closely watched globally because the Strait of Hormuz handles a major share of global oil shipments. The closure of the waterway since the start of the war had severely disrupted global energy markets.
Oil prices and shipping routes have remained volatile amid uncertainty surrounding the conflict and negotiations.
Iran has demanded an end to the US blockade on its shipping and sanctions relief as part of the talks.
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