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U.S. and Iran Edge Toward One-Page Truce Deal as U.S. Disables Tanker

Tehran’s reply will determine whether a pause leads to talks on reopening the Strait of Hormuz.

n this picture obtained from Iran's ISNA news agency and taken on May 2, 2026, the Gambia-flagged tanker vessel Bili is pictured anchored in the Strait of Hormuz off Bandar Abbas in southern Iran. | (Getty Images)
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U.S. President Donald Trump holds an event with UFC fighters in the Oval Office at the White House in Washington, D.C., U.S., May 6, 2026. REUTERS/Kylie Cooper
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Overview

  • Iran says it is reviewing the latest U.S. proposal through Pakistan, which on Thursday said it expects a response soon.
  • The draft memo, described as a one-page, 14-point framework, would halt fighting and launch 30 days of talks on reopening Hormuz, easing sanctions, and nuclear limits, even as Iran sets up a new Persian Gulf Strait Authority to control transits.
  • U.S. Central Command said a fighter jet on Wednesday disabled an Iranian-flagged tanker that tried to breach the U.S. blockade of Iranian ports, highlighting the fragile cease-fire.
  • The U.S. paused its ship-escort effort, Project Freedom, after NBC News reported Saudi Arabia denied base and airspace access, complicating plans to force a safe corridor.
  • The strait remains closed with hundreds of ships and thousands of sailors stuck, and oil near $100 a barrel is straining fuel costs, shipping schedules, and global supply chains.