Overview
- Senior U.S. officials and regional mediators say negotiators have largely drafted a staged memorandum of understanding that would pause fighting and reopen the Strait of Hormuz, with final text still unsigned.
- President Donald Trump has urged caution and ordered the U.S. naval blockade to remain in place until any agreement is reached, certified and signed, even as Secretary of State Marco Rubio said diplomacy has a narrow window to succeed.
- U.S. and regional sources report the draft would open a 30–60 day timetable to resolve Iran’s nuclear stockpile and sanctions, with Washington insisting there will be no sanctions relief if Tehran does not relinquish or otherwise secure its highly enriched uranium; Iranian officials and state‑linked outlets give mixed accounts on any uranium commitment.
- Key unresolved issues include who controls access through the Strait of Hormuz, exact verification steps for handling enriched uranium, a mechanism for phased release of frozen Iranian funds, and Israel’s demand that any final deal eliminate nuclear threats.
- If implemented the memorandum could ease oil and shipping disruptions that have driven prices up, but markets and civilians would not see a full return of pre‑war flows for months and the region remains on a tense military footing that could quickly undo progress.