US–Iran Close to Sixty-Day Truce Framework Tied to Hormuz Reopening

2026-05-24 05:01:26

(MENAFN) The United States and Iran are reportedly close to agreeing on a 60-day ceasefire extension that would lead to the reopening of the Strait of Hormuz, allowing Iran to restart oil exports and creating a negotiation window over its nuclear program, according to a US official familiar with the draft agreement and other reports.

The proposed arrangement has not yet been finalized, and officials cautioned that it could still fall apart before any signing or public announcement, which could come as early as Sunday.

Under the draft understanding, Iran would take steps to clear naval mines from the Strait of Hormuz and permit commercial shipping to transit without fees or restrictions.

In return, Washington would reportedly lift its restrictions on Iranian port access and issue limited sanctions waivers, enabling Tehran to resume oil exports during the 60-day period.

A US official described the framework as “relief for performance,” saying economic concessions would only follow verified Iranian actions rather than being provided in advance.

MENAFN24052026000045017640ID1111160677

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.