- US to ‘lift’ blockade on Iranian ports under agreement.
- Sanctions waivers to ‘allow’ Iranian oil exports again.
- Iran ‘commits’ to not pursue nuclear weapons capability.
The United States and Iran are close to signing a deal involving a 60-day ceasefire extension, during which the Strait of Hormuz would be reopened, Iran would be able to freely sell oil, Axiosreported on Saturday, citing a US official.
According to the report, negotiations would be held on curbing Iran’s nuclear programme, and during the 60-day period, the Strait of Hormuz would be open with no tolls. Iran would agree to clear the mines it deployed in the strait to let ships pass freely, the source added.
In exchange, as part of the proposed deal, the US would lift its blockade on Iranian ports and issue some sanctions waivers to allow Iran to sell oil freely, the report added.
The draft agreement also includes commitments from Iran to never pursue nuclear weapons and to negotiate over a suspension of its uranium enrichment programme and the removal of its stockpile of highly enriched uranium, the Axios report said.
Iran gave the US, through the mediators, verbal commitments about the scope of the concessions it’s willing to make on suspending enrichment and giving up the nuclear material, two sources told Axios.
The US would also agree to negotiate over lifting sanctions and unfreezing Iranian funds during the 60-day period, the Axios report said.
The White House did not immediately respond to Reuters’ request for comment on the report.
Meanwhile, US President Donald Trump said that a “largely negotiated” memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz.
Trump posted on social media that the emerging agreement would reopen the strait, the vital shipping passage whose closure has sparked a global energy crisis since the US and Israel launched the war on Iran in February. He did not say what else would be included in an agreement.
“Final aspects and details of the Deal are currently being discussed, and will be announced shortly,” Trump wrote on Truth Social.
U Secretary of State Marco Rubio, on a visit to India, said more news on Iran could come on Sunday and there was a possibility of good news on the strait over the next few hours.
‘Issues still need to be discussed’
Separately, Iran has said that diplomatic discussions this week have shown progress toward easing tensions, although several important issues still require further negotiation through mediators.
“The trend this week has been towards a reduction in disputes, but there are still issues that need to be discussed through mediators. We will have to wait and see where the situation ends in the next three or four days,” said Iranian Foreign Ministry spokesperson Esmail Baghaei.
Baghaei said the issue of the US blockade on Iran’s shipping was important, but that its priority was ending the threat of new US attacks and the ongoing conflict in Lebanon, where Hezbollah are fighting Israeli troops who have moved into the south.
2026-05-24 13:30:00
