Washington: The White House is reportedly close to reaching a preliminary agreement with Iran aimed at ending ongoing hostilities and establishing a framework for future nuclear negotiations, according to a report by Axios citing two US officials.
The proposed understanding is said to be a one-page memorandum outlining early commitments from both sides, including steps related to de-escalation in the Strait of Hormuz, a critical global oil transit route that has been heavily disrupted during the conflict.
According to the report, the framework would involve Iran committing to a moratorium on uranium enrichment, while the United States would consider lifting certain sanctions and releasing frozen Iranian assets worth billions of dollars. Both sides are also expected to ease restrictions on maritime transit through the Strait of Hormuz.
The US administration is reportedly awaiting Iran’s response within 48 hours, although neither the White House nor the US State Department has officially confirmed the details.
The development comes as US President Donald Trump announced a temporary pause in a military operation aimed at escorting commercial vessels through the Strait of Hormuz, citing “significant progress” toward a broader agreement with Tehran and diplomatic requests from Pakistan and other countries.
Trump also suggested that the operation, previously aimed at securing shipping routes, would be suspended to allow space for negotiations. US officials stated that the effort had already helped restore partial movement of stranded tankers in the Gulf region.
Meanwhile, crude oil prices dropped following reports of easing tensions, reflecting market optimism over a potential diplomatic breakthrough.
The conflict, which has severely disrupted global energy supplies, has seen repeated strikes and counter-strikes in the Gulf region, raising fears of a prolonged international crisis.
Pakistan, Saudi Arabia, China, and other regional actors have been involved in diplomatic engagement efforts, with Islamabad reportedly supporting ceasefire initiatives and dialogue between Washington and Tehran.
Chinese officials also reiterated support for diplomatic resolution, urging an immediate end to hostilities and a return to negotiations.
Despite the reported progress, tensions remain high in the region, with continued military alerts and sporadic incidents reported near strategic waterways.
Diplomatic observers say that while the reported memorandum could mark a first step toward de-escalation, significant gaps remain before a comprehensive agreement can be finalized.
