The United States and Iran have agreed on the text of a deal to end their conflict, according to a diplomat from one of the mediating countries who “walked” Axios reporter Barak Ravid through the latest draft.
The agreement takes the form of a 60-day memorandum of understanding. Hormuz would reopen immediately without transit fees, with traffic returning to pre-war levels within 30 days. The US would lift its naval blockade on Iran; Tehran would receive temporary sanctions waivers to sell oil during the 60-day window, generating revenue for an economy the war has badly damaged.
Nuclear negotiations would run concurrently, with one option involving Iran down-blending its highly enriched uranium inside the country under UN inspector supervision. Any nuclear steps would only take effect if the two sides reach a second, more detailed agreement.
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The mediating diplomat told Axios, “the U.S. and Iran have agreed on the text of a deal,” but acknowledged it still requires final sign-off. As of Thursday evening, Iran had approved the text at high levels — but likely not yet by Supreme Leader Mojtaba Khamenei, two sources familiar with the negotiations said.
Iran’s foreign ministry said Tehran had “not yet reached a final decision.” Trump said he expected a signing ceremony this weekend. The Pentagon moved logistics equipment to Europe on Thursday via four C-17 aircraft, positioning Vice President Vance for a potential signing ceremony in Geneva.
For two months, the White House has announced imminent progress only to watch talks collapse. The most recent cycle saw Trump order strikes on Iran on June 10, triggered by the Apache helicopter downing and nearly two weeks without an Iranian response. Iran closed the Strait and launched missiles at US bases. Trump then pulled back a follow-up strike order after talks reached the highest levels of Iranian leadership, and today a mediating diplomat says the text has been agreed.
Read: Trump Pulls Back Iran Strike Order After Talks Approved With Iranian Leadership
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