The United States and Iran are reportedly nearing an agreement that includes a 60-day ceasefire and the reopening of the Strait of Hormuz. During this period, Iran would be allowed to sell oil freely, and discussions would take place regarding Iran's nuclear program, according to a U.S. official. The agreement aims to prevent escalation of conflict and alleviate pressure on global oil supplies. However, it remains uncertain whether it will result in a lasting peace agreement addressing nuclear concerns.
Both parties are expected to sign a memorandum of understanding (MOU) that could be extended by mutual consent. The MOU stipulates that the Strait of Hormuz would be open without tolls, and Iran would clear mines to facilitate shipping. In return, the U.S. would lift its blockade on Iranian ports and provide sanctions waivers for oil sales, which the U.S. official noted would benefit both Iran's economy and the global oil market.
The U.S. official emphasized that the quicker Iran clears the mines, the sooner the blockade will be lifted. While Iran seeks immediate access to unfrozen funds and permanent sanctions relief, the U.S. has indicated that such measures would only follow tangible concessions.
The draft MOU also includes commitments from Iran to refrain from pursuing nuclear weapons and to negotiate on suspending its uranium enrichment program and removing its stockpile of highly enriched uranium. The U.S. would consider lifting sanctions and unfreezing Iranian funds during the 60-day period, contingent on the implementation of a final agreement.
Additionally, the draft MOU suggests an end to the conflict between Israel and Hezbollah, a point of concern for Israeli Prime Minister Benjamin Netanyahu, who communicated his reservations to President Trump. The U.S. official stated that the ceasefire would not be one-sided, allowing Israel to act if Hezbollah attempts to rearm.
President Trump has consulted with various Arab and Muslim leaders, all of whom expressed support for the deal. The primary mediator has been Pakistan, led by Field Marshal Asim Munir. As of Saturday evening, Trump appeared to favor a diplomatic resolution over military action against Iran.
The White House anticipates that final differences will be resolved soon, with an announcement of the deal potentially occurring on Sunday. However, the U.S. may reconsider the agreement if it perceives a lack of seriousness from Iran regarding nuclear negotiations.