U. S. President Donald Trump announced that Washington and Iran have mostly negotiated a memorandum of understanding for a peace deal intended to reopen the Strait of Hormuz. This strait has been vital for shipping and its closure has led to a worldwide energy crisis since the war began in February. Trump mentioned that details of the agreement are still being discussed and will be revealed soon. Reports indicate the framework includes ending the fighting, lifting a U. S. blockade on Iranian shipping, and reopening the strait, which Iran has threatened to close further.
The negotiations also involve discussions on Iran’s stockpile of highly enriched uranium, which the U. S. wants Iran to give up, to take place within 30 to 60 days. U. S. Secretary of State Marco Rubio mentioned the possibility of new developments soon, while a senior Iranian source stated that the memorandum would require approval from Iran’s Supreme Leader after clearance from the Supreme National Security Council. However, Iran’s news agency reported that some disagreements remain, suggesting no final deal could happen if the U. S. continues to create hurdles.
If finalized, the deal could reduce market tensions but may not solve the ongoing energy crisis immediately. The price of Brent crude has significantly increased since the conflict began, and even if the war ends, normal flows through the strait might not resume until 2027. Under the potential agreement, the U. S. is expected to lift its blockade on Iranian ports and ease some sanctions on Iranian oil, alongside Iran’s commitment to not pursue nuclear weapons.
Iran has consistently denied seeking nuclear arms, maintaining that their uranium enrichment is for peaceful purposes. According to Iranian sources, the draft agreement would also prevent the U. S. and allies from attacking Iran or its allies in exchange for Iran not launching preemptive attacks.
Israeli political figures have expressed that accepting a ceasefire in Lebanon would be a strategic error, especially regarding the fight against Hezbollah. Although Prime Minister Benjamin Netanyahu conveyed his concerns to Trump, Trump reported having a positive call with him on the matter.
The proposed deal is expected to unfold in three stages: ending the war, addressing issues in the Strait of Hormuz, and initiating broader negotiations. The Strait could open immediately after the U. S. lifts its blockade, potentially allowing for toll-free navigation. There are conditions for any changes concerning navigation, which depend on the U. S. meeting its commitments and the release of frozen Iranian funds.
Despite the progress, Iran’s Foreign Ministry noted that although disputes have decreased, issues remain that need mediation. Iran’s top negotiator emphasized that their military capabilities have strengthened during the ceasefire and warned of severe consequences if hostilities resumed.
With information from Reuters
