US and Iran near 60-day ceasefire to reopen Hormuz strait

The United States and Iran are nearing a 60-day ceasefire extension that would reopen the Strait of Hormuz and allow Tehran to resume oil sales, creating a window for nuclear negotiations while maintaining American military posture in the region, according to a US official familiar with the draft agreement.

Draft terms

Under the proposed memorandum of understanding, Iran would clear mines from the strategic waterway and permit vessels to pass without tolls. In exchange, Washington would lift its blockade on Iranian ports and grant limited sanctions waivers allowing oil sales during the 60-day period. A US official said the arrangement amounts to “relief for performance,” noting that economic benefits would follow concrete Iranian steps rather than being granted upfront.

The draft also commits Tehran not to pursue nuclear weapons and to negotiate suspending uranium enrichment and removing its stockpile of highly enriched uranium. American forces deployed to the region would remain in place during the ceasefire and withdraw only if a final, verified agreement is reached. Any broader sanctions relief or unfreezing of Iranian funds would be discussed during the 60-day window but implemented solely as part of a comprehensive deal, according to Axios.

Regional dimensions

The agreement appears linked to parallel efforts to end the war between Israel and Hezbollah in Lebanon, a condition that prompted Israeli Prime Minister Benjamin Netanyahu to raise concerns during a Saturday call with US President Donald Trump. Officials said Israel would retain the right to act if Hezbollah attempts to rearm or resume attacks. The diplomatic push has drawn support from several Arab and Muslim leaders, including officials from Saudi Arabia, Qatar, Egypt, Türkiye, Pakistan and the United Arab Emirates, with Pakistani Field Marshal Asim Munir traveling to Tehran to help finalize the arrangement. The White House hopes remaining issues could be resolved within hours and that the deal could be announced as soon as Sunday, though officials cautioned the agreement could still collapse or end early if Washington concludes Iran is not serious about nuclear negotiations.