The United States and Iran are close to an agreement that would extend the ceasefire by 60 days and open the Strait of Hormuz to toll-free passage, U.S. online outlet Axios reported on Tuesday (local time). However, an agreement on the nuclear program has been deferred, and Israel is pushing back against ending the fighting in Lebanon, leaving room for friction even if a deal is reached.
Axios, citing a draft of the agreement obtained through U.S. government officials, reported that the two sides are expected to sign a memorandum of understanding (MOU) valid for 60 days that can be extended by mutual agreement. The Financial Times of Britain also reported that a ceasefire agreement of 30 to 60 days is near.
The reports came shortly after a Pakistani mediation team visited Tehran the previous day for high-level behind-the-scenes contacts with Iran, and after President Donald Trump held a series of phone calls with mediating countries and announced that a deal to end the war with Iran was imminent.
"An agreement among the United States, Iran and various other countries has largely been negotiated, with only final confirmation remaining," Trump wrote on Truth Social. However, Trump did not specify a clear timeline for the announcement.
Iran's foreign ministry also said it was working to finalize the MOU and had presented a three-stage proposal including a formal end to the war and resolution of the Strait of Hormuz crisis, Iranian media reported.
According to the draft MOU reported by Axios, the Strait of Hormuz would be opened toll-free during the 60-day ceasefire period, and Iran would agree to remove mines to ensure freedom of navigation.
In exchange, the United States would lift its blockade of Iran and waive sanctions to allow Iran to sell oil freely.
One official said Iran wanted the unfreezing of funds and a permanent easing of sanctions, but the United States stressed that there must be substantive concessions.
The United States acknowledged that allowing Iranian oil sales would significantly help Iran's economy, but also views it as providing considerable relief to the global oil market.
Axios added that the draft includes a commitment by Iran not to engage in nuclear weapons development, as well as a pledge to halt its uranium enrichment program and to participate in negotiations to dispose of highly enriched uranium.
A U.S. official also said that the faster Iran proceeds with mine removal, the sooner the de facto blockade of the Strait of Hormuz will be lifted.
Sources said Iran has verbally conveyed to the United States, through mediating countries, the extent to which it is willing to make concessions on issues such as halting uranium enrichment and giving up nuclear materials.
As a result, agreements on the Strait of Hormuz and economic issues are expected to be reached first, while nuclear negotiations will discuss details during the ceasefire period.
The draft also includes a provision that U.S. forces stationed around Iran will remain in place during the 60-day ceasefire period and will only withdraw once a final agreement is reached, Axios reported.
Variables remain. The two sides are reported to have included in the draft a plan to end the war between Israel and Hezbollah in Lebanon, but Israel opposes this.
An Israeli government official said that Prime Minister Benjamin Netanyahu expressed concerns about this condition during a phone call with President Trump on the 21st.
