American and Iranian negotiators have agreed on the framework of a memorandum of understanding for a 60-day ceasefire extension, but the deal still requires final approval from President Donald Trump, US officials have confirmed.
The agreement, first reported by US media outlet Axios, would bring de-escalation to a conflict that has rattled global energy markets and disrupted shipping lanes since Iran closed the Strait of Hormuz earlier this year. Under the draft MoU, the strait would reopen to unrestricted commercial traffic – meaning no tolls and no interference – and Iran would be required to clear all mines it deployed in the waterway within 30 days.
In turn, the US would proportionally lift its naval blockade on Iranian ports and issue sanctions waivers allowing Tehran to sell oil freely. The MoU also includes a formal Iranian commitment not to pursue a nuclear weapon. How to address Iran’s stockpile of highly enriched uranium is expected to be among the first issues on the table during the 60-day negotiating window.
