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The US is nearing an agreement to lift restrictions on Iranian ports, with a proposed 60-day ceasefire extension. During this period, the Strait of Hormuz would reopen to shipping, allowing Iran to freely sell oil again. Negotiations focus on restricting Iran’s nuclear program, and in the meantime, the strait would be open without tolls. Iran has agreed to remove mines blocking the passage, enabling ships to pass safely.
In exchange, the United States would lift sanctions on Iranian ports and provide some waivers to facilitate oil exports. Iran has also committed not to develop nuclear weapons and to negotiate a suspension of uranium enrichment, along with the removal of highly enriched uranium stockpiles. Iranian officials have verbally assured mediators of their willingness to limit nuclear activities.
The US is also expected to negotiate the unfreezing of Iranian assets during this period. The White House has not immediately commented on the reports. Meanwhile, President Donald Trump mentioned that a draft memorandum on Iran peace talks could reopen the Strait of Hormuz, a vital shipping lane whose closure has contributed to a global energy crisis since early this year. Trump stated that details are still being finalized and will be announced soon.
Secretary of State Marco Rubio, visiting India, indicated more updates could come as soon as Sunday, with potential positive news regarding the Strait. Iran has expressed that progress in diplomatic talks has been made this week, though several key issues still need resolution through mediators. Iran’s Foreign Ministry spokesperson noted that while disputes have lessened, talks will continue over the next few days. Their priorities remain ending the threat of renewed US attacks and addressing ongoing conflict in Lebanon, where Hezbollah is fighting Israeli forces in the south.
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