The United States and Iran have 'largely negotiated' a peace deal that would reopen the strategic Strait of Hormuz, according to President Donald Trump, raising expectations of an imminent breakthrough. The closure of this vital shipping passage has triggered a global energy crisis since the US and Israel launched strikes on Iran in February.
Key Developments in the Draft Agreement
In a post on Truth Social on Saturday, Trump stated that the 'final aspects and details of the deal' are being discussed. His remarks were corroborated by US Secretary of State Marco Rubio, who confirmed that 'significant progress' had been made. Rubio also hinted at further positive developments on Sunday, 'at least in regards to the Strait.'
Details leaked to US and Iranian media indicate substantial work on a draft memorandum of understanding between the two nations. According to Axios, the deal would include no tolls on ships transiting the strait, while Iran would be permitted to freely sell oil. In exchange, the US would lift its blockade on Iranian ports and waive some sanctions on Iranian oil, as reported by the US news outlet citing an American official.
Nuclear Commitments and Phased Framework
The draft agreement reportedly includes commitments from Iran never to pursue nuclear weapons. Various media outlets in the US and Iran state that the memorandum outlines a phased framework for ending months of hostilities. Plans for Iran's stockpile of enriched uranium, which Washington has insisted be relinquished, would be negotiated within 30 to 60 days, according to the reports.
The US has also committed to withdrawing forces from the region, as per Iranian media. Iran's Fars news agency reported that the draft memorandum includes a temporary lifting of sanctions on Iran's oil, gas, and petrochemicals during the negotiation period, though specific details remain unclear.
Remaining Obstacles and Approval Process
On Sunday morning, Iranian media indicated that one or two clauses of the memorandum of understanding are still unresolved. Iran's Tasnim news agency noted ongoing conflict over a small number of items but did not specify which aspects. A senior Iranian source told Reuters that if Iran's Supreme National Security Council approves the memorandum, it will be sent to the Supreme Leader for final approval.
Tehran has not agreed to hand over its uranium stockpile, with a source informing Reuters that this is not part of the preliminary agreement with the US. Tasnim cited a source as saying there would be no final understanding if the US continued to create obstacles.
