The United States and Iran are nearing a 60-day ceasefire agreement that would reopen the Strait of Hormuz and permit Tehran to freely sell oil, according to a U.S. official who detailed the draft to Axios. The memorandum of understanding, extendable by mutual consent, would also launch negotiations to curb Iran's nuclear program. Both sides have signaled a possible announcement on Sunday, though the deal has not been finalized and could collapse.
The pact aims to de-escalate military conflict and relieve pressure on global oil supplies, which have been strained by the closure of the strategic waterway. However, it remains uncertain whether the temporary truce will lead to a lasting peace or satisfy President Trump's nuclear demands. Mediators have been involved in the talks, but Iranian officials have not publicly confirmed the specifics.
Under the draft, Iran would agree to clear mines it had laid in the Strait of Hormuz, ensuring the channel operates without tolls during the ceasefire period. The 60-day timeline provides a window for broader negotiations on Tehran's atomic activities. Key details were verified by multiple sources close to the discussions, though no exact figures on oil volumes or enrichment levels were disclosed.
If signed, the deal would avert a wider regional war and stabilize energy markets, but its fragility raises questions about enforcement and follow-through. Both Washington and Tehran have indicated progress, yet deep mistrust remains. The coming days will test whether the framework can hold long enough to yield a more comprehensive accord.
Critics argue the agreement could legitimize Iranian aggression and fail to halt its nuclear progress, echoing past failed deals. The 60-day structure may allow either side to walk away without a permanent resolution.