The United States and Iran reached a tentative agreement on Thursday to extend the shaky ceasefire in the Middle East and reopen the Strait of Hormuz, but President Trump’s approval remains pending, according to U.S. sources.
The two sides have struck a deal on a 60-day memorandum of understanding (MOU) to protract the fragile ceasefire — which has been in place since last month — and begin the reopening of the Strait of Hormuz, a key waterway that has been effectively choked off by Iran.
They will also commit to negotiating Iran’s nuclear enrichment program and U.S. sanctions on the regime.
As part of the agreement, Iran will not impose tolls on commercial ships attempting to transit the strait and Tehran will begin demining the waterway through which 20 percent of the world’s oil and gas supply flows through, sources said. The agreement still has to be cleared by senior Iranian leadership.
If the commercial shipping in the strait is restored, the U.S. Navy blockade will be removed. Washington will also issue sanctions waivers, allowing Tehran to sell its oil.
The MOU and its details were first reported by Axios. The agreement would also encompass Tehran’s pledge not to seek a nuclear weapon.
If signed by both sides, the MOU will mark the biggest step toward forging a peace deal since the Iran war began on Feb. 28.
Iran has so far not confirmed if it accepts the tentative deal.
Trump and his negotiators have sought to strike an agreement with Iran several times at prior points in the war, but discussions did not go far.
The tentative agreement comes as the two countries have engaged in skirmishes this week.
The U.S. Central Command (Centcom) said the military conducted “defensive strikes” in southern Iran on Monday, arguing they needed to protect U.S. forces and that Iranian boats were trying to lay mines in the Strait of Hormuz.
On Wednesday, the U.S. military intercepted and shot down four Iranian one-way attack drones and hit an Iranian ground control station in Bandar Abbas, a port city on the southern coast of the nation, according to a U.S. official.
Iran targeted Kuwait with ballistic missiles and drones, which were intercepted by Kuwaiti forces. The attack drew condemnations from Kuwait and Qatar, a U.S. Gulf ally involved in the peace mediations. Centcom accused Iran of violating the temporary ceasefire.
The MOU includes talks to assist Iran in getting humanitarian aid. The U.S. will engage in talks over releasing Iran’s frozen funds and relief from some sanctions.
