WASHINGTON: The United States and Iran have agreed on the text of a draft memorandum of understanding (MoU), although the arrangement still requires final approval from both sides, according to a report by Axios and other media outlets.
The proposed agreement is aimed at easing tensions and creating space for further negotiations over Tehran’s nuclear programme. Under the draft, the existing ceasefire would be extended for 60 days, including provisions covering Lebanon, while talks on broader issues continue.
Axios reported that one of the key elements of the deal is the immediate reopening of the Strait of Hormuz without the imposition of transit tolls, allowing commercial shipping to return to normal levels.
🇺🇸🇮🇷The US and Iran have agreed on the text of a draft deal pending final approval, according to Axios, which reported the agreement would include:
• A 60-day extension of the ceasefire, including in Lebanon, while nuclear talks continue
• Immediate reopening of the Strait of… pic.twitter.com/IY5wX4qo7y
— Anadolu English (@anadoluagency) June 12, 2026
The move is expected to ease concerns over disruptions to global energy supplies and international trade. According to the report, Washington would provide sanctions relief linked to Iran’s compliance with the agreement.
The draft also establishes a framework for dealing with Iran’s stockpile of enriched uranium, although more substantial nuclear commitments would depend on a subsequent and more comprehensive accord.
Axios further said that discussions involving Qatar have explored a mechanism that could allow Iran access to a portion of its frozen overseas assets for humanitarian purposes. However, the release of funds and broader sanctions relief would be tied to verifiable implementation of the agreement.
The US outlet reported that preparations are under way for a possible signing ceremony in Geneva, with aircraft reportedly positioned in Europe ahead of a potential diplomatic event.
Despite the apparent progress, Iranian officials have stressed that no final decision has yet been taken and that the proposed deal remains under review by the country’s relevant authorities.
According to Reuters, hopes for de-escalation have strengthened following indications from US President Donald Trump that an agreement could be concluded in the coming days, although both sides continue to examine outstanding issues.
Financial markets reacted positively to the developments, with oil prices declining amid expectations that the strategic waterway would resume normal operations.
