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Alsharq Tribune-Ahmed Essam
The US and Iran are close to signing an agreement that would extend a ceasefire for 60 days, reopen the Strait of Hormuz, allow Iran to sell oil freely, and launch negotiations on curbing Tehran’s nuclear programme, Axios reported on Sunday, citing a US official.
Under the proposed agreement, both sides would sign a 60-day memorandum of understanding (MoU), with the possibility of extension by mutual consent, Axios reported.
The Strait of Hormuz would reopen during those days, allowing the free passage of ships, with no tolls imposed.
In return, the United States would lift its blockade on Iranian ports and issue sanctions waivers enabling Iran to sell oil freely on global markets.
A US official acknowledged that the arrangement would provide a major boost to Iran’s economy but also ease pressure on global oil markets.
According to the report, the draft MoU includes Iranian commitments never to pursue nuclear weapons and to negotiate over suspending its uranium enrichment programme and removing its stockpile of highly enriched uranium.
Two sources familiar with the talks told Axios that Iran had already conveyed verbal commitments through mediators regarding the scope of the concessions it is willing to make on suspending enrichment and giving up the nuclear material.
The United States would also agree to negotiate during that time, particularly over lifting sanctions and unfreezing Iranian funds. However, those measures would only be implemented under a final agreement verified by both sides.
The report said US military forces deployed to the region in recent months would remain in place during the interim period and would only withdraw if a final agreement is reached.
President Donald Trump discussed the proposed agreement with several Arab and Muslim leaders during a conference call on Saturday, with all participants expressing support for the initiative, according to three sources familiar with the call.
The call included the leaders of Egypt, Saudi Arabia, the UAE, Qatar, Turkey, and Pakistan.
Trump has reportedly fluctuated in recent days between pursuing diplomacy and authorising a major military strike against Iran. However, as of Saturday evening, he was said to be leaning towards a diplomatic solution.
“An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries,” Trump wrote on his Truth Social platform on Saturday.
“In addition to many other elements of the Agreement, the Strait of Hormuz will be opened,” he added.
The draft MoU also stipulates that the Israeli war on Lebanon would come to an end.
Israeli Prime Minister Benjamin Netanyahu reportedly raised concerns about that provision during a phone call with Trump on Saturday, according to an Israeli official. A U.S. official said Netanyahu also objected to other aspects of the deal but presented his concerns in a “respectful and deferential” manner.
The US official stressed that the arrangement would not amount to a “one-sided ceasefire,” saying Israel would retain the right to act if Hezbollah attempted to rearm or launch attacks.
“If Hezbollah behaves, Israel will behave,” the official said.
The official added that the speed at which Iran clears the mines and restores maritime traffic through the Strait of Hormuz would determine how quickly US restrictions and blockades are lifted.
According to the official, Trump’s guiding principle in the negotiations is “relief for performance.”
Iran had reportedly sought the immediate unfreezing of funds and permanent sanctions relief, but US negotiators insisted such measures would only follow concrete and verifiable concessions by Tehran.
Both Trump and the mediators have indicated that the agreement could be announced as early as Sunday, although the deal has not yet been finalised.
US Secretary of State Marco Rubio also signalled that an announcement could come later on Sunday.
“I do think perhaps there is the possibility that in the next few hours the world will get some good news,” Rubio told reporters in New Delhi.
Rubio said the agreement would begin “a process that can ultimately leave us where the president wants us to be, and that is a world that no longer has to fear or worry about an Iranian nuclear weapon.”
The agreement could help prevent further escalation in the region and reduce pressure on global oil supplies, according to Axios. However, the report noted that it remains unclear whether the proposed arrangement would ultimately lead to a lasting peace settlement that fully addresses Trump’s nuclear demands.
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