US and Iranian negotiators reached a tentative agreement to extend the ceasefire in the three-month-old war by 60 days and launch talks on Iran’s nuclear programme, according to a US official familiar with the matter.
Iran did not immediately confirm any deal, and the official noted that US President Donald Trump has yet to sign off on it.
The emerging memorandum of understanding came as the fragile ceasefire in the war between the US and Iran appeared to be wavering.
The latest flare-up in fighting happened less than a day earlier, when Kuwait intercepted missiles fired from Iran, according to US Central Command.
The memorandum makes clear that Iran will not be able to impose tolls on the Strait of Hormuz and that Iran will have to remove all mines from the vital waterway within 30 days, according to the official, who was not authorised to comment publicly and spoke on condition of anonymity.
During the war, Iran has effectively closed the strait, which had been the conduit for about a fifth of the world’s traded oil and natural gas.
Its closure has sent oil prices skyrocketing around the world.
US treasury secretary Scott Bessent predicted on Thursday at a news briefing that the cost of oil could “come down very quickly” once a deal is finalised.
Iran has said it is letting some commercial vessels pass — about two dozen daily in recent days, compared with more than 100 a day before the war — but the Islamic Republic also has charged tolls for at least some ships.
It set up a formal gatekeeper agency earlier this month, spurring a new round of US sanctions this week.
Under the tentative agreement, the US would gradually lift its naval blockade on Iranian ports.
The US would also agree to relax sanctions, allowing Iran to sell more of its oil.
A second US official, who also spoke on condition of anonymity to discuss the private diplomacy, said the broad outlines of an agreement have been reached but stressed that until Mr Trump signs off on it, there is no deal.
The official said there still are questions about whether Mr Trump will accept the proposal.
