US and Iran near deal to end fighting and reopen Strait of Hormuz

Officials from the US, Iran and Pakistan said a memorandum of understanding is close to final approval and would reopen the Strait of Hormuz while lifting a US naval blockade of Iran. The agreement would take effect immediately upon signing, followed by a 60-day period of talks focused on Iran's enriched uranium.

Officials said the material would be destroyed on site and removed from the country, though the exact mechanism remains under discussion.

Economic and security terms US officials stated there would be no upfront payments and that economic measures such as sanctions relief would occur only after verification of Iranian compliance. The deal also requires Iran to stop funding proxy groups in the region.

Iranian officials said the first point in the memorandum is the lifting of the US naval blockade and that administration of the Strait of Hormuz would change. Iran had previously required a transit fee for vessels; the US had insisted on free passage.

Background and remaining steps The conflict began on 28 February with US and Israeli strikes on Iran, leading Iran to attack Israel and US-allied Gulf states and to close the Strait of Hormuz. A ceasefire was reached in April, but intermittent strikes continued until this week.

US President Donald Trump said on Thursday that scheduled attacks had been cancelled because negotiators had reached a settlement. Iranian media published details of a 14-point plan the same day, which Trump said did not match the agreed terms. Pakistani Prime Minister Shehbaz Sharif said the memorandum had been agreed and awaited finalising.

Israeli officials are not participating in the talks, which are intended to extend the ceasefire and open negotiations on Iran's nuclear programme. US officials described the current text as more detailed and the outlook as more optimistic than earlier versions that collapsed in recent weeks.