U.S. and Iranian negotiators are close to finalizing an agreement to prolong the current ceasefire by 60 days and restore normal commercial traffic through the Strait of Hormuz, according to reporting based on U.S. official accounts. The proposed arrangement would allow Iran to resume unrestricted oil exports and create a limited window for expanded diplomatic engagement.
Under the draft terms, the waterway would remain open for the entire 60-day extension, with vessels permitted to transit without payment of tolls. Iran would remove naval mines it had placed in the strait, a step designed to re-establish secure shipping lanes for commercial traffic.
In exchange, the United States would lift its blockade of Iranian ports and provide sanctions waivers enabling Tehran to sell oil on global markets. The package is framed as reciprocal: reopening passage and lifting the blockade would be matched by Iranian commitments on nuclear constraints.
The draft agreement reportedly contains explicit pledges by Iran not to pursue nuclear weapons and to enter talks aimed at suspending its uranium enrichment activities. Negotiations contemplated under the draft would also address the disposition of Iran's stockpile of highly enriched uranium.
Officials representing Iran have given verbal assurances through mediators about the scope of concessions they would be willing to make concerning both enrichment and nuclear material, according to the reporting.
Proponents of the extension view it as a temporary but meaningful pause that would open a diplomatic channel between Washington and Tehran. The extra time would be used to pursue broader discussions that could include easing certain sanctions and the potential release of frozen Iranian assets.
The Strait of Hormuz is a vital chokepoint for global energy flows, handling roughly one-fifth of the world's oil shipments. Since the outbreak of hostilities, interruptions to traffic through the strait have heightened concerns about global energy supplies and contributed to inflationary pressures.
Officials in Washington did not immediately return requests for comment about the reported draft agreement.
Context and next steps
If enacted, the 60-day extension would preserve an open corridor for maritime commerce while the two sides pursue more comprehensive talks. The draft suggests steps aimed at reducing immediate risks to shipping and energy markets while initiating discussions on longer-term nuclear issues.
Limitations of reporting
Available reporting indicates verbal assurances from Iranian officials have been made through intermediaries, and the provisions remain in draft form pending final agreement by both sides. Questions remain about how detailed commitments on enrichment suspension and removal of highly enriched uranium would be implemented.