U.S. President Donald Trump
| Photo Credit:
KYLIE COOPER
The US and Iran are close to signing a deal involving a 60-day ceasefire extension, during
which the Strait of Hormuz would be reopened, Iran would be able
to freely sell oil and negotiations would be held on curbing
Iran’s nuclear program, Axios reported on Saturday, citing a
U.S. official.
According to the Axios report, during the 60-day period, the
Strait of Hormuz would be open with no tolls and Iran would
agree to clear the mines it deployed in the strait to let ships
pass freely.
In exchange, as part of the proposed deal, the US would
lift its blockade on Iranian ports and issue some sanctions
waivers to allow Iran to sell oil freely, the report added.
The draft agreement also includes commitments from Iran to
never pursue nuclear weapons and to negotiate over a suspension
of its uranium enrichment program and the removal of its
stockpile of highly enriched uranium, the Axios report said.
Iran gave the U.S. through the mediators verbal commitments
about the scope of the concessions it’s willing to make on
suspending enrichment and giving up the nuclear material, two
sources told Axios.
U.S. would also agree to negotiate over lifting sanctions
and unfreezing Iranian funds during the 60-day period, the Axios
report said.
The White House did not immediately respond to Reuters’
request for comment on the report.
Published on May 24, 2026
