Washington DC: A high-stakes memorandum for a 60-day ceasefire between the United States and Iran is in its final stages, with negotiators working to close remaining gaps and prevent further escalation in the region, according to an Axios report citing US officials.
The proposed agreement reportedly includes the reopening of the Strait of Hormuz and the resumption of Iranian oil exports.
According to a senior US official, the draft agreement is based on a “relief for performance” framework. If implemented, the deal would immediately reopen the Strait of Hormuz, ease pressure on global energy markets, and create a 60-day window to negotiate the complete dismantling of Iran’s nuclear programme.
A US official quoted by Axios said the arrangement is conditional. “The faster the Iranians clear the mines and let shipping resume, the faster the blockade will be lifted,” the official said.
US President Donald Trump and mediators reportedly believe an announcement could come as early as Sunday.
Under the proposed Memorandum of Understanding (MoU), Iran would be required to remove naval mines from the Strait of Hormuz to restore safe shipping routes. In return, the United States would lift port restrictions and provide sanctions waivers to allow Iranian oil sales to resume.
The draft agreement also includes commitments related to Iran’s nuclear programme. Iran has reportedly pledged not to pursue nuclear weapons and to negotiate the suspension of uranium enrichment and the removal of its highly enriched uranium stockpile.
According to Axios, billions of dollars in frozen Iranian assets and permanent sanctions relief would remain withheld until a final agreement is verified. US military forces would also maintain their presence in the region as a deterrent.
The proposed framework further seeks to reduce tensions between Israel and Hezbollah in Lebanon. While Israeli Prime Minister Benjamin Netanyahu reportedly raised concerns during a phone call with Trump, US officials stressed that the arrangement would not be a “one-sided ceasefire.”
The administration has reportedly assured Israel that it retains the right to launch defensive strikes if Hezbollah attempts to rearm or initiate new attacks.
Regional coordination efforts reportedly involved Saudi Arabia, the United Arab Emirates, Qatar, Egypt, Turkey and Pakistan, with Pakistan Army Chief Asim Munir said to be playing a key mediating role.
Despite progress, officials cautioned that the agreement remains incomplete and subject to final negotiations. The White House is reportedly seeking to resolve the remaining issues within days.
A US official told Axios that the long-term success of the agreement would depend on Iran’s future decisions and willingness to change its strategic direction.
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