The United States and Iran have reportedly agreed on the text of an interim memorandum of understanding that would extend the current ceasefire, reopen the Strait of Hormuz, provide limited sanctions relief, and launch a new round of negotiations over Tehran’s nuclear program. However, Iranian officials insist no final approval has yet been given.

According to CNN, citing a diplomat briefed on the negotiations, the two sides have agreed on the wording of the memorandum of understanding, but it is still awaiting final approval from senior leadership.

If approved, the agreement would represent the most significant diplomatic breakthrough between Washington and Tehran since the conflict erupted earlier this year.

According to CNN, the proposed agreement includes the following provisions:

• A 60-day ceasefire “on all fronts,” including Lebanon, would take effect immediately upon signing. The pause in fighting is intended to create a window for negotiations on a broader and potentially permanent agreement.

• The Strait of Hormuz would reopen immediately, with Iran agreeing not to levy any fees on ships passing through the strategic waterway. CNN reported that maritime traffic would gradually return to pre-war levels within 30 days of the agreement taking effect, restoring one of the world’s busiest oil shipping lanes.

• The United States would lift its naval blockade of Iranian ports. In addition, Iran would receive phased sanctions relief “based on the progression of the deal and continued engagement in good faith.” According to CNN, the draft does not include a specific timetable for broader sanctions relief.

• The agreement would satisfy what CNN described as all of Washington’s key nuclear demands. Iran would formally pledge never to obtain a nuclear weapon, while both sides would begin addressing the future of Iran’s stockpile of highly enriched uranium as part of follow-up negotiations.

• The memorandum would reportedly be known as the “Islamabad Agreement,” recognizing Pakistan’s central role in mediating the negotiations.

CNN noted that it remains unclear whether the proposal includes the release of billions of dollars in frozen Iranian assets—one of Tehran’s principal demands throughout the negotiations. The diplomat said discussions in the final days focused heavily on the Strait of Hormuz and Iran’s nuclear program.

President Donald Trump declared Thursday that the United States had “ended the war with Iran” and said Vice President JD Vance could attend a signing ceremony in Europe within days.

According to CNN, multiple diplomatic sources said Geneva, Switzerland, is the leading candidate to host the signing ceremony. One diplomat told the network that the signing would mark the beginning of “phase two” of negotiations, during which both sides would work out the implementation of the memorandum and continue talks on Iran’s nuclear program.

Pakistan’s Foreign Ministry added further signs that negotiations are progressing, announcing Friday that Pakistani Foreign Minister Muhammad Ishaq Dar discussed the talks with the European Union’s chief diplomat. According to Pakistan’s official readout, both sides welcomed the diplomatic progress and expressed hope that the negotiations would soon produce “a durable understanding and peaceful resolution.”

Meanwhile, Iran’s semi-official Mehr News Agency published what it described as additional details of the proposed memorandum. According to the report, Washington would commit to withdrawing military forces positioned around Iran, ending the naval blockade, releasing frozen Iranian assets, lifting oil sanctions, and pledging not to interfere in Iran’s internal affairs.

Mehr also reported that additional negotiations on nuclear and economic issues would take place at a later stage, while Iran’s ballistic missile program and its support for regional proxy groups would not be included in the talks.

Despite the growing optimism, Iranian officials continue to deny that a final agreement has been reached. Iran’s Foreign Ministry said reports of a finalized deal remain “merely speculation,” while state media emphasized that the proposed memorandum has not yet received final approval from the country’s senior leadership.

(YWN World Headquarters – NYC)