The United States and Iran are reportedly close to reaching a preliminary memorandum of understanding aimed at ending the conflict in the region and establishing a framework for broader nuclear negotiations, according to Axios, as reported by Al Arabiya.
The report, citing US officials and sources familiar with the discussions, said Washington expects Tehran to respond within the next 48 hours on several key issues. While no final agreement has been reached, the sources described the talks as the closest the two sides have come to a deal since the conflict began.
According to the report, the proposed one-page memorandum includes 14 points covering a temporary halt to Iran’s uranium enrichment activities, a potential easing of US sanctions and the release of billions of dollars in frozen Iranian funds.
The draft agreement would also include steps to ease restrictions on maritime transit through the Strait of Hormuz, a critical global energy and shipping route that has faced major disruption during the conflict.
The memorandum is reportedly being negotiated by US envoys Steve Witkoff and Jared Kushner together with Iranian officials through both direct and mediated channels.
In its current form, the document would mark the start of a 30-day negotiation period focused on reopening the Strait of Hormuz, limiting Iran’s nuclear programme and lifting sanctions.
According to Axios, maritime restrictions imposed by Iran in the strait, along with the US naval blockade, would be gradually lifted during the negotiation period. One US official cited in the report said Washington would retain the option to restore the blockade or resume military action if negotiations fail.
A Pakistani source involved in mediation efforts also told Reuters that the two sides are nearing an agreement.
Iran stated earlier that it would only accept a peace arrangement it considers “fair,” while Donald Trump reportedly paused a naval mission aimed at reopening the Strait of Hormuz.
The White House and the US State Department had not officially commented on the report at the time of publication.
