The US and Iran are close to signing a 60-day ceasefire extension that would reopen the Strait of Hormuz, allowing Iran to resume oil sales and creating a window for negotiations on Tehran’s nuclear programme, according to a US official familiar with the draft agreement, the Axios news website reported.
The proposed deal, which has not been finalised, could be announced as soon as Sunday.
Officials cautioned, however, that the agreement could still collapse before it is signed.
Under the draft memorandum of understanding, Iran would clear mines from the Strait of Hormuz and allow ships to pass without tolls.
In exchange, Washington would lift its blockade on Iranian ports and issue limited sanctions waivers permitting Tehran to sell oil freely during a 60-day period.
A US official described the arrangement as “relief for performance,” saying economic relief would follow concrete Iranian steps rather than be granted upfront.
The draft also includes Iranian commitments not to pursue nuclear weapons and to negotiate suspending uranium enrichment and removing its stockpile of highly enriched uranium.
Any broader sanctions relief or unfreezing of Iranian funds would be discussed during the ceasefire period, but would only be implemented as part of a final, verified agreement.
