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View all search resultsProposed US-Iran deal involves opening strait during 60-day ceasefire extension
According to the Axios report, during the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely.
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A vessel is anchored off the coast of Sharjah in the United Arab Emirates on May 21, 2026. Iran's new body overseeing the Strait of Hormuz said its claimed area of control extends to Emirati waters, drawing a sharp rebuke from the Gulf neighbour as the traffic through Hormuz, a vital global shipping conduit, has come under Iranian control since the outbreak of war with Israel and the United States on Feb. 28. (AFP/-)
T
he US and Iran are close to signing a deal involving a 60-day ceasefire extension, during which the Strait of Hormuz would be reopened, Iran would be able to freely sell oil and negotiations would be held on curbing Iran's nuclear program, Axios reported on Saturday, citing a US official.
According to the Axios report, during the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely.
In exchange, as part of the proposed deal, the US would lift its blockade on Iranian ports and issue some sanctions waivers to allow Iran to sell oil freely, the report added.
The draft agreement also includes commitments from Iran to never pursue nuclear weapons and to negotiate over a suspension of its uranium enrichment program and the removal of its stockpile of highly enriched uranium, the Axios report said.
Iran gave the US through the mediators verbal commitments about the scope of the concessions it's willing to make on suspending enrichment and giving up the nuclear material, two sources told Axios.
US would also agree to negotiate over lifting sanctions and unfreezing Iranian funds during the 60-day period, the Axios report said.
The White House did not immediately respond to Reuters' request for comment on the report.
Earlier, US President Donald Trump said a deal with Iran had been "largely negotiated," with the proposal including opening the crucial Strait of Hormuz, though the agreement was "subject to finalization."
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," Trump wrote on his Truth Social platform, listing a number of Middle East powers along with Turkey and mediator Pakistan.
"In addition to many other elements of the Agreement, the Strait of Hormuz will be opened."
