The United States is reportedly close to finalising a one-page memorandum with Iran to end the ongoing war. Axios cited two US officials who said the document would outline a framework for broader nuclear negotiations.
The White House believes the agreement is near completion. According to the report, both sides are now reviewing final terms. An Iranian response is expected within 48 hours.
Proposed Terms of the Framework
The draft agreement includes several key points. Both sides would ease restrictions on navigation through the Strait of Hormuz. Iran would also agree to pause uranium enrichment activities.
In return, the United States would lift sanctions. It would also release billions of dollars in frozen Iranian assets.
However, officials have not confirmed the details. Reuters said it could not independently verify the report.
Trump Orders Pause in “Project Freedom”
Earlier, US President Donald Trump announced a pause in “Project Freedom.” The operation was designed to escort ships through the Strait of Hormuz.
He said the decision followed requests from Pakistan and other countries. Trump also cited progress toward a possible agreement with Iran.
As a result, US crude oil prices fell sharply. They dropped by $2.30 and moved below $100 per barrel.
Read more:US Says “Operation Epic Fury” Over as Strait of Hormuz
Ongoing Tensions in the Strait of Hormuz
Despite diplomatic efforts, tensions continue in the region. Iran has accused the US of aggression. Meanwhile, the US has blamed Iran for threats to commercial shipping.
Military operations and naval escorts remain active. The US says it has destroyed several Iranian drones and small boats.
At the same time, reports of continued drone activity and vessel attacks have raised concerns about the fragile ceasefire.
Global Diplomatic Involvement
Pakistan, Saudi Arabia, and other countries have supported de-escalation efforts. Prime Minister Shehbaz Sharif welcomed Trump’s pause in the operation and called it a step toward stability.
China has also urged both sides to end hostilities. It has called for the safe reopening of the Strait of Hormuz and supported renewed negotiations.
Uncertain Path Ahead
Although diplomatic talks are advancing, major gaps remain. Iran insists on its right to peaceful nuclear energy. The US continues to demand limits on enrichment activities.
For now, both sides appear to be moving toward a tentative framework. However, officials warn that the situation remains fragile and could still escalate.
