U.S. President Donald Trump delivers remarks at Rockland Community College in Suffern, New York, U.S., May 22, 2026. REUTERS/Kylie Cooper
WASHINGTON, D.C., May 24 (ANI) — A high-stakes memorandum for a 60-day ceasefire between the United States and Iran is in its final stages, with negotiators working to close remaining gaps and prevent further escalation in the region, including reopening the Strait of Hormuz and resuming Iranian oil sales, according to an Axios report citing U.S. officials.
According to a senior U.S. official, the draft agreement is based on a strict diplomatic framework of “relief for performance.” If implemented, the deal would immediately reopen the strategically vital Strait of Hormuz, temporarily ease pressure on global energy markets, and create a 60-day window to negotiate the complete dismantling of Iran’s nuclear program.
A U.S. official cited by Axios described the arrangement as conditional, stating, “The faster the Iranians clear the mines and let shipping resume, the faster the blockade will be lifted.”
Both U.S. President Donald Trump and regional mediators reportedly indicated that an announcement could come as early as Sunday.
Under the proposed 60-day Memorandum of Understanding (MoU), Iran would be required to clear naval mines in the Strait of Hormuz to restore safe shipping lanes. In return, the United States would lift port restrictions and issue sanctions waivers allowing Iranian oil exports to resume.
Iran would also be expected to immediately halt maritime tolling activities and remove naval mines deployed in the waterway. Simultaneously, the United States would suspend its defensive naval blockade on Iranian ports and provide targeted sanctions relief to facilitate the flow of Iranian crude oil.
The draft MoU also includes Iranian commitments related to its nuclear program, including a pledge not to pursue nuclear weapons and to participate in negotiations aimed at suspending uranium enrichment and removing its stockpile of highly enriched uranium.
According to Axios, Iran has already provided verbal commitments through regional mediators to negotiate a complete suspension of its uranium enrichment program and surrender its highly enriched uranium stockpile.
A U.S. official told Axios that billions of dollars in frozen Iranian assets and broader sanctions relief would remain withheld until a final permanent treaty is verified and implemented. The official added that U.S. military forces mobilized in the region would continue to maintain their presence as a deterrent.
The draft agreement also includes provisions intended to reduce tensions between Israel and Hezbollah in Lebanon. While Israeli Prime Minister Benjamin Netanyahu reportedly raised serious domestic and security concerns during a Saturday phone call with President Trump, U.S. officials emphasized that the proposal is not a “one-sided ceasefire.”
The administration has reportedly assured Israel that it would retain the right to launch defensive strikes if Hezbollah attempts to rearm or initiate new border incursions.
A U.S. official also noted, “If Hezbollah behaves, Israel will behave.”
Regional diplomatic coordination reportedly involved Saudi Arabia, the United Arab Emirates, Qatar, Egypt, Turkey, and Pakistan, with Pakistan Army Chief Asim Munir playing a key mediating role in the discussions.
Despite the reported progress, officials cautioned that the agreement remains incomplete and subject to final negotiations. The White House is reportedly seeking to resolve the remaining differences within days.
A U.S. official quoted by Axios said, “It will be interesting to see how far Iran will be truly willing to go, but if they are capable of and want to change their trajectory, this next phase will force them to make some critical decisions on what they want to be as a country.”
The report added that while diplomatic momentum continues to build, the long-term durability of any agreement will depend on implementation, verification, and sustained political commitment from all sides involved. (ANI)
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