**Trump Pauses Project Freedom as Negotiators Near One-Page Memorandum With Iran**

Asia-Pacific markets opened higher on Thursday as traders weighed reports that negotiators were closing in on a one-page memorandum to end hostilities in the Gulf. According to U.S. media cited by multiple outlets, the framework under discussion would see Iran transfer its stockpile of highly enriched uranium and observe a moratorium on further enrichment for 12 to 15 years.

In exchange the United States would provide sanctions relief and release frozen funds once the uranium is secured for destruction or down-blending.

President Trump posted on Truth Social that Operation Epic Fury would end and the naval blockade of Iranian ports would be lifted if Iran agreed to the terms, allowing the Strait of Hormuz to reopen to all traffic including Iranian vessels. Hours later he described a deal as a big assumption.

The comments came one day after the secretary of state told reporters that Operation Epic Fury had ended. Iran said it was reviewing a new proposal from Washington. A source close to mediators in Pakistan told Reuters the two sides were getting close to an agreement.

Negotiators have been attempting to persuade the president to accept a framework he previously rejected last month. The current proposal echoes elements of a cash-for-uranium idea that received initial approval during talks in Islamabad before the president pulled support.

On 17 April he stated that Iran had agreed to everything and would allow removal of its enriched uranium, a claim Tehran rejected.

In a call with PBS he expressed optimism while acknowledging past difficulties, saying it was unlikely he would dispatch envoys for a second round of talks in Islamabad. Foreign policy analysts noted that even if a memorandum is signed, detailed implementation on nuclear issues could take many months.

One expert pointed out that the Obama-era nuclear agreement required more than 20 months to finalize technical details.

Shipping analysts said Project Freedom had limited practical effect, with only a handful of vessels transiting the strait before Iranian responses including attacks on ships and targets in the UAE. The president maintained that Iran wants to negotiate. However, officials expressed internal skepticism about which Iranian factions could ultimately approve any agreement.

A former Pentagon official said the link between pausing Project Freedom and the memorandum remained unclear, noting that as many as 1,500 vessels were backed up behind the strait. Another analyst said Iranian counteractions had likely convinced the president that the escort operation would not resolve the underlying problem.

Oil markets calmed after the pause in Project Freedom but remained sensitive to any resumption of military activity. West Texas Intermediate crude futures rose 0.92 percent to $95.95 per barrel.