A potentially historic diplomatic breakthrough is emerging in the Middle East as the United States and Iran move closer to a proposed 60-day ceasefire agreement that could reopen the strategically vital Strait of Hormuz, revive Iranian oil exports, and launch a new phase of negotiations over Tehran’s nuclear programme.
According to senior officials familiar with the ongoing discussions, the draft agreement is nearing finalisation and could be announced within hours if remaining disputes are resolved. However, diplomats caution that the negotiations remain fragile and could still collapse at the final stage.
Under the proposed memorandum of understanding, Iran would remove naval mines from the Strait of Hormuz and guarantee unrestricted international maritime passage without tolls or interference. In return, Washington would ease restrictions on Iranian ports and provide limited sanctions waivers allowing Tehran to resume oil exports during the 60-day ceasefire window.
The Strait of Hormuz remains one of the world’s most critical energy chokepoints, carrying a substantial share of global oil and gas shipments. Any disruption in the corridor has immediate consequences for international energy prices, shipping security and global financial markets. Analysts say the reopening of the waterway could significantly reduce tensions in global energy markets after months of instability and rising geopolitical fears.
A senior US official described the framework as “relief for performance,” emphasizing that economic incentives would only follow verifiable Iranian actions rather than being granted in advance. The approach reflects Washington’s attempt to maintain pressure while testing Tehran’s willingness to engage in meaningful diplomacy.
The draft proposal reportedly includes Iranian commitments not to pursue nuclear weapons and to enter negotiations aimed at suspending uranium enrichment activities and reducing stockpiles of highly enriched uranium. Broader sanctions relief and the possible release of frozen Iranian assets would be discussed during the ceasefire period but implemented only under a final verified agreement.
Despite the diplomatic momentum, the United States is expected to maintain its military deployments across the region throughout the ceasefire period. American officials have reportedly made clear that troop withdrawals would occur only after a long-term and enforceable agreement is achieved.
The negotiations are also closely tied to efforts to contain escalating regional tensions involving Lebanon and Hezbollah. Israeli Prime Minister Benjamin Netanyahu has reportedly expressed concerns over aspects of the agreement during direct talks with US President Donald Trump. According to US officials, Israel would still retain the right to act militarily if Hezbollah attempts to rearm or resume attacks.
Several influential regional powers — including Saudi Arabia, Qatar, Egypt, Türkiye, Pakistan and the United Arab Emirates — are said to be supporting the diplomatic initiative. Pakistan, in particular, has reportedly played an active mediation role, with Field Marshal Asim Munir travelling to Tehran in an effort to help finalise the agreement.
International observers believe the proposed ceasefire could become one of the most consequential diplomatic developments in recent Middle Eastern history. Beyond reducing the immediate risk of military escalation, the agreement has the potential to reshape regional alliances, influence the future of Iran’s nuclear negotiations and stabilise global energy supply chains already strained by geopolitical uncertainty.
However, uncertainty still surrounds the talks. US officials have warned that the ceasefire could be terminated early if Washington concludes that Iran is not acting seriously in nuclear negotiations or fails to comply with its commitments.
If successfully implemented, the agreement could mark the beginning of a broader regional de-escalation process and open a new chapter in US-Iran relations after years of sanctions, military tensions and diplomatic deadlock.
US and Iran close to ceasefire agreement, possibility of reopening Strait of Hormuz
