US and Iran Near Key Agreement on Ceasefire Extension, Strait of Hormuz Reopening: Report
Washington/Tehran: The United States and Iran are reportedly close to reaching a major agreement that could extend the current 60-day ceasefire, reopen the Strait of Hormuz, and allow Iran to resume unrestricted oil sales.
According to a report by American news outlet Axios, officials from both countries are expected to sign a memorandum of understanding (MOU) valid for 60 days, with the possibility of further extension.
Under the proposed agreement, Iran would keep the Strait of Hormuz open for international maritime traffic without imposing toll taxes during the 60-day period. Tehran has also reportedly agreed to remove naval mines laid in the strategic waterway to restore free movement of commercial ships.
The report added that negotiations aimed at limiting Iran’s nuclear program would continue during the ceasefire period.
In return, the United States is expected to ease sanctions on Iranian ports and provide limited economic relief, enabling Iran to freely sell oil on global markets. The move is also expected to provide relief to international oil markets.
US officials said the core principle of the agreement would be “relief in exchange for performance,” meaning Washington would gradually ease sanctions in proportion to Iran’s progress in clearing naval mines and restoring maritime trade in the Strait of Hormuz.
According to sources, Iran had initially demanded the immediate release of frozen assets and the permanent lifting of sanctions. However, the US position remains that such steps would only follow concrete actions by Tehran.
The proposed MOU would also include Iranian assurances that it would never seek nuclear weapons. Discussions are expected to continue regarding suspension of uranium enrichment activities and the elimination of highly enriched uranium stockpiles.
Sources further claimed that Iran has conveyed verbal assurances through mediating countries that it is willing to accept limitations on uranium enrichment and make concessions regarding sensitive nuclear material.
Axios reported that US military forces stationed in the region would remain in place during the 60-day period and would only withdraw if a final agreement is successfully reached.
The proposed deal is also said to include provisions related to ending hostilities between Lebanon’s Hezbollah movement and Israel.
According to the report, Pakistan is playing a central mediating role in the negotiations, led by Field Marshal Syed Asim Munir. The Pakistani military chief reportedly remained in Tehran on Friday and Saturday as part of efforts to finalize the agreement.
US officials expressed hope that the remaining issues could be resolved within the next few hours and that the agreement may be officially announced later on Sunday.
