The United States and Iran are close to a 60-day ceasefire agreement that would reopen the Strait of Hormuz and allow limited Iranian oil exports, according to a US official familiar with the draft.
The deal is intended to create a temporary diplomatic window for nuclear negotiations while maintaining US military presence in the region.
Draft agreement outlines phased relief
Under the proposed framework, Iran would take steps to secure maritime traffic in the Strait of Hormuz.
In return, the United States would ease restrictions on Iranian oil exports and allow limited sanctions waivers for the 60-day period.
A US official described the arrangement as “relief for performance,” meaning sanctions relief would depend on verified Iranian actions.
Nuclear commitments included in proposal
The draft also states that Iran would commit not to pursue nuclear weapons.
It would also enter negotiations on suspending uranium enrichment and reducing its stockpile of highly enriched material.
At the same time, US forces would remain deployed in the region during the ceasefire period.
Any broader sanctions relief would depend on a final and verified long-term agreement.
Regional tensions linked to wider conflicts
The proposal is also connected to wider regional diplomacy involving conflicts in the Middle East.
Officials said discussions include efforts to reduce tensions involving Hezbollah in Lebanon.
Israeli Prime Minister Benjamin Netanyahu reportedly raised concerns about the talks during a call with US President Donald Trump.
Meanwhile, several regional governments — including Saudi Arabia, Qatar, Egypt, Türkiye, Pakistan, and the United Arab Emirates — have reportedly supported diplomatic efforts.
Officials cautioned that the agreement is not finalized and could still collapse.
The White House reportedly hopes to resolve remaining issues quickly, with a possible announcement as early as Sunday.
However, implementation would depend on continued compliance from both sides over the 60-day period.
