US-Iran near interim deal as Strait of Hormuz shipping could resume within 30 days: reports

The United States and Iran are reportedly moving closer to a potential agreement aimed at ending the ongoing conflict in West Asia, reopening the strategically crucial Strait of Hormuz, and easing tensions over Tehran’s nuclear programme.

According to reports, a draft memorandum of understanding (MoU) between Washington and Tehran proposes restoring ship transit through the Strait of Hormuz to pre-war levels within 30 days. The agreement would also require the complete lifting of the US naval blockade imposed on Iranian ports and the phased release of some of Iran’s frozen overseas funds.

The Strait of Hormuz, through which nearly 20% of global energy supplies pass, was effectively disrupted after the US-Israeli strikes on Iran on February 28. The conflict triggered sharp spikes in crude oil prices and intensified concerns over global energy security.

As part of the proposed arrangement, Iran would reportedly clear naval mines deployed in the Strait, allowing commercial vessels to pass freely without tolls during a 60-day ceasefire extension period. In return, the United States would ease certain sanctions, lift restrictions on Iranian ports, and allow Tehran to resume oil exports during negotiations.

As per reports, the draft deal also includes negotiations aimed at limiting Iran’s nuclear activities. While Tehran has reportedly not yet agreed to specific actions regarding its nuclear programme, discussions are expected to continue over a 60-day framework.

The proposed MoU further includes mutual security assurances. According to reports, the US and its allies would commit to refraining from attacks on Iran and its regional partners, while Tehran would pledge not to launch preemptive strikes against the United States or its allies.

The draft agreement also reportedly contains provisions under which Iran would commit to never pursuing nuclear weapons and would negotiate over suspending uranium enrichment activities and reducing its stockpile of highly enriched uranium.

The potential deal is also expected to contribute to ending the conflict between Israel and Hezbollah in Lebanon, according to reports citing US officials.

Despite signs of progress, reports indicate that differences remain between the two sides over several clauses, particularly those linked to Iran’s nuclear programme.