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U.S. and Iranian negotiators have reached an agreement on a 60-day Memorandum of Understanding (MoU) to extend the ceasefire and launch negotiations on Iran's nuclear program. U.S. President Donald Trump, however, has not yet given his final approval, two U.S. officials and a regional source involved in the mediation efforts told Axios.
Signing the agreement would be the most significant diplomatic breakthrough since the war began, though a final deal addressing Trump's nuclear demands would still require further intensive negotiations.
"Deal terms were mostly agreed as of Tuesday, but both sides needed approval from senior leadership," U.S. officials said.
The officials said the Iranians subsequently indicated they had the necessary approvals and were prepared to sign. Iran has not confirmed that.
Trump was briefed on the details of the final deal, but he did not immediately sign off.
"The president relayed to the mediators that he wants a couple of days to think about it," a U.S. official said.
Under the agreement, shipping through the Strait of Hormuz would be unrestricted. "This means no tolls and no harassment, while Iran would be required to remove all the mines from the strait within 30 days," a U.S. official said.
"The U.S. naval blockade would also be lifted, but in proportion to the restoration of commercial shipping," the official said.
The MoU would include an Iranian commitment not to pursue a nuclear weapon. The first issues to be negotiated during the 60-day window would be how to dispose of Iran's highly enriched uranium and how to address Iranian enrichment going forward.
The U.S. would commit to discussing sanctions relief and the release of frozen Iranian funds as part of the negotiations. The MoU would also include a discussion of a mechanism to help Iran begin receiving goods and humanitarian aid.
Trump and his advisers believed they were close to a deal several times at earlier stages of the war, but an agreement didn't materialize.
The war began when the U.S. and Israel launched strikes on Iran in February. Tehran retaliated with attacks on Israel and U.S. allies in the Gulf and closed the Strait of Hormuz. A ceasefire took effect on April 8 through Pakistani mediation, but subsequent talks in Islamabad failed to produce a lasting agreement. Trump later extended the truce indefinitely.
Since then, the two sides have continued exchanging proposals and counterproposals in an effort to resume direct talks and end the conflict.
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