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The United States and Iran are nearing a draft agreement that would reopen the Strait of Hormuz, ease pressure on global oil markets, and launch a new round of talks over Tehran’s nuclear program, Axios reported, citing a US official familiar with the talks.
The proposed deal, which mediators and President Donald Trump have suggested could be announced as early as Sunday, would establish a 60-day ceasefire framework that could later be extended by mutual consent. However, officials cautioned that talks remain ongoing and the agreement could still collapse before being finalized.
According to the US official, both sides would sign a memorandum of understanding under which Iran would reopen the Strait of Hormuz, remove naval mines deployed in the waterway, and allow unrestricted maritime traffic to resume. In return, Washington would lift its blockade on Iranian ports and issue sanctions waivers enabling Tehran to freely export oil.
The official acknowledged that the arrangement would provide a major boost to Iran’s economy, but argued it would also stabilize global energy markets by restoring oil flows through one of the world’s most strategically important shipping lanes.
Nuclear commitments and sanctions relief
“The faster the Iranians clear the mines and let shipping resume, the faster the blockade will be lifted,” the official said, saying the agreement is based on a principleof “relief for performance.”
According to the official, Iran had pushed for the immediate unfreezing of funds and permanent sanctions relief, but the US rejected those demands, insisting that broader economic concessions would only come after verifiable Iranian steps were implemented.
The draft agreement also includes commitments from Iran to never pursue nuclear weapons and to negotiate over suspending its uranium enrichment activities and removing its stockpile of highly enriched uranium, the official said.
Two sources familiar with the talks said Iran had already provided verbal assurancesthrough mediators regarding the scope of concessions it may be willing to make on enrichment and nuclear material.
During the 60-day period, the US would also enter talks over additional sanctions relief and the unfreezing of Iranian assets, although those measures would only take effect under a final agreement that could be independently verified, according to the sources.
The proposal would leave US military forces deployed in the region throughout the interim period, with any withdrawal contingent on the successful implementation of a broader final deal.
Israeli war on Lebanon in the deal
The draft memorandum also reportedly includes provisions aimed at ending the Israeli war on Lebanon.
Israeli Prime Minister Benjamin Netanyahu raised concerns about that aspect of the agreement during a phone call with Trump on Saturday, according to an Israeli official. A US official said Netanyahu also voiced objections to other elements of the proposal, though the discussion remained “respectful and deferential.”
The US official insisted the arrangement would not amount to a “one-sided ceasefire,” saying “Israel” would retain the ability to respond if Hezbollah attempted to rearm or launch attacks.
“If Hezbollah behaves, Israel will behave,” the official said, according to Axios.
Regional diplomacy and uncertain prospects
The diplomatic effort has also received backing from several Arab and Muslim leaders after Trump discussed the proposal during a conference call on Saturday, Axios reported, citing three sources familiar with the conversation.
Among the leaders who expressed support for the deal was Mohammed bin Zayed Al Nahyan, widely viewed as one of the region’s more hawkish figures on Iran, the US official said. The leaders of Saudi Arabia, Qatar, Egypt, Türkiye, and Pakistan also participated in the call, according to the sources.
Pakistan has emerged as the primary mediator in the talks, led by Asim Munir, who traveled to Tehran on Friday and Saturday in an effort to secure a final agreement.
According to officials familiar with the discussions, Trump had oscillated in recent days between pursuing the diplomatic track and authorizing a large-scale aggression on Iran. By Saturday evening, however, he was leaning toward a negotiated settlement.
The White House hopes the remaining differences can be resolved within hours and that a formal announcement could come on Sunday, the US official said.
Agreement remains fragile
At the same time, officials acknowledged the agreement remains fragile. The US official said Washington could abandon the arrangement before the end of the 60 days if it concludes Iran is not negotiating seriously on nuclear issues.
Still, US officials believe Iran’s worsening economic situation may ultimately push Tehran toward a broader settlement that would remove sanctions and unlock frozen assets.
“It will be interesting to see how far Iran will be truly willing to go, but if they are capable of and want to change their trajectory, this next phase will force them to make some critical decisions on what they want to be as a country,” the official said.
According to Trump advisors, the president is prepared to pursue a major reset in relations with Iran if Tehran agrees to Washington’s demands regarding its nuclear program. Advisors said Trump believes Iran’s economic potential is “huge” and sees the possibility of a broader normalization if a final agreement is reached.
“Bibi has his domestic considerations, but Trump has the interests of the US and the global economy to think about,” the US official added, referring to Netanyahu by his nickname.
