US, Iran Nearing 60-Day Ceasefire Deal to Reopen Strait of Hormuz and Ease Sanctions
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- •US and Iran close to signing a 60-day MOU to extend ceasefire, reopen Strait of Hormuz, and resume Iranian oil exports
- •Iran to clear mines from the Strait and allow toll-free shipping; US to lift port blockade and issue oil export waivers
- •Iran commits to never pursuing nuclear weapons, suspend uranium enrichment, and discuss removal of highly enriched uranium stockpile
- •Framework includes staged process: war ending, Strait reopening, 30-day nuclear negotiation window
- •Pakistan-led mediation gains regional support from Saudi Arabia, UAE, Qatar, Egypt, Turkey, and Pakistan
- •Israel-Hezbollah conflict to pause, but Israel retains right to respond to threats
- •Global oil markets watch closely as Strait of Hormuz reopening could ease energy supply disruptions
The United States and Iran are on the verge of finalizing a 60-day ceasefire agreement that would reopen the strategically vital Strait of Hormuz, lift economic blockades on Iranian ports, and allow Tehran to resume oil exports while simultaneous nuclear negotiations take place. According to a report by Axios, citing a US official, the draft memorandum of understanding (MOU) would require Iran to clear mines from the Strait of Hormuz to restore safe passage for commercial vessels and oil tankers, while the US would lift its blockade on Iranian ports and issue sanctions waivers enabling Iran to export oil freely.
