Washington: The US and Iran are nearing the conclusion of a significant 60-day ceasefire agreement that aims to reopen the critical Strait of Hormuz. This move would enable Iran to resume oil sales and open a channel for negotiations regarding Tehran's nuclear program.
According to Anadolu Agency, the draft agreement is on the verge of being finalized and could be announced as early as Sunday, though officials have warned that the deal might still unravel before formalization. As part of the draft memorandum of understanding, Iran has agreed to clear mines from the Strait of Hormuz and allow toll-free passage of ships.
In return, the US would lift its blockade on Iranian ports and grant limited sanctions waivers to permit Iran to sell oil freely over the specified 60-day period. A US official characterized the arrangement as 'relief for performance,' indicating that economic benefits would follow tangible Iranian actions rather than being provided upfront.
The draft also contains Iranian commitments to abstain from pursuing nuclear weapons and to engage in negotiations to halt uranium enrichment and dispose of its highly enriched uranium stockpile. Any broader sanctions relief or unfreezing of Iranian funds would be subject to discussions during the ceasefire and could only be executed as part of a final, verified agreement.
US forces stationed in the region are expected to remain during the 60-day period and would withdraw only upon reaching a definitive deal. The agreement also seems to be tied to efforts to resolve the conflict between Israel and Hezbollah in Lebanon. Israeli Prime Minister Benjamin Netanyahu reportedly expressed concerns over this condition in a conversation with Trump on Saturday.
A US official confirmed that Israel would retain the right to act if Hezbollah attempted to rearm or resume hostilities. Several leaders from Arab and Muslim nations, including Saudi Arabia, Qatar, Egypt, Turkey, Pakistan, and the United Arab Emirates, have endorsed the diplomatic initiative. Pakistan has played a pivotal role in mediation, with Field Marshal Asim Munir traveling to Tehran to assist in finalizing the agreement.
The White House remains hopeful that the outstanding issues can be resolved within hours, though US officials have cautioned that the ceasefire could be terminated prematurely if Washington determines that Iran is not genuinely committed to nuclear negotiations.