Washington and Tehran are closing in on an unprecedented single-page memorandum of understanding that would end the escalating military confrontation in the Persian Gulf, according to senior officials from both governments briefed on the negotiations.
The proposed agreement, remarkable for its brevity compared to the failed 2015 Joint Comprehensive Plan of Action, would declare an immediate end to hostilities and establish a 30-day negotiating period to finalize detailed terms on nuclear restrictions, sanctions relief, and freedom of navigation through the Strait of Hormuz.
Nuclear Concessions and Timeline
According to reporting by Axios, Iran would commit to a moratorium on uranium enrichment lasting between 12 and 15 years—a significant departure from Tehran's previous positions. Two sources with direct knowledge of the negotiations indicated that Iran has agreed in principle to remove its highly enriched uranium from the country, addressing a key American security priority that Iranian negotiators had consistently rejected since the collapse of the JCPOA in 2018.
The United States would lift economic sanctions and release billions in frozen Iranian assets held in foreign banks since the Trump administration's "maximum pressure" campaign. Both nations would gradually lift restrictions on transit through the Strait of Hormuz during the 30-day implementation period, according to a senior U.S. official who spoke on condition of anonymity.
Context of Crisis and Diplomacy
The breakthrough comes after weeks of escalating tensions that brought the two nations to the brink of full-scale war. Iran's Revolutionary Guard closed the Strait to commercial shipping on May 2, choking off nearly one-fifth of global oil supplies and sending energy prices soaring. President responded with threats of military strikes and deployed additional naval assets to the region.
