US-Iran peace deal awaiting Donald Trump’s final approval, says report; Iran yet to confirm

Officials said the memorandum of understanding between the United States and Iran will also include a pledge from Tehran that it will not pursue the development of nuclear weapons.

Amid ongoing negotiations and renewed military strikes, the United States and Iran are reportedly close to signing a peace deal. According to an Axios report, delegations from Washington and Tehran have closed down on all aspects of the deal, though it is still awaiting final approval from US President Donald Trump.

Citing US officials, the report said that reopening the Strait of Hormuz is one of the central elements of the proposed agreement.

The Strait of Hormuz serves as a crucial maritime route for nearly 20 per cent of the global oil and gas supply. Shipping operations in the region have been disrupted amid the ongoing conflict, leading Iran to shut the strategically vital passage.

Furthermore, the US naval blockade on Iranian ports has also disrupted maritime trade and shipping operations in the region.

According to the report, the proposed US-Iran peace agreement would ensure unrestricted movement of vessels through the strategically important Strait of Hormuz. US officials also said that ships passing through the waterway would not be subject to any transit fees or tolls.

Iran has also been asked to clear all mines from the Strait of Hormuz within 30 days of the agreement coming into force.

However, Washington will lift its naval blockade on Iranian ports in line with the restoration of normal shipping activity. This means the US Navy could continue enforcing restrictions if maritime movement is disrupted again.

The agreement further states that during the 60-day negotiation period, the United States will hold discussions on potential sanctions relief for Iran, including the release of certain frozen funds. In addition, both sides are expected to deliberate on a mechanism to facilitate the delivery of humanitarian assistance to Iran.

Also Read | 'I don't care about midterms': Trump vows Iran deal; says 'nobody controls Hormuz'

What is status of nuclear dispute?

Officials said the memorandum of understanding between the United States and Iran will also include a pledge from Tehran that it will not pursue the development of nuclear weapons.

The remaining issues related to the handover of Iran’s enriched uranium stockpile and other aspects of its nuclear programme will be discussed during the 60-day window aimed at reaching a permanent agreement.

The dispute over Iran’s nuclear programme has remained a major point of contention between Washington and Tehran and was among the key factors behind the joint US-Israeli strikes.

For years, both the United States and Israel have maintained that Iran was nearing the capability to develop a nuclear weapon. During the 12-day war between Iran and Israel in 2025, the US also carried out strikes on several of Iran’s key nuclear facilities.

Also Read | US says Iran draft deal ‘fabricated’ as Tehran claims Hormuz reopening in 30 days if Washington's pull out forces from its vicinity

Trump admin signals at more strikes if deal is not reached

Speaking to reporters during a cabinet meeting on Wednesday, President Donald Trump, Secretary of State Marco Rubio, and Secretary of Defense Pete Hegseth signalled the possibility of further strikes on Iran if an agreement was not reached.

“I think there’s been some progress and some interest, and we’ll see over the next few hours and days whether progress could be made,” said Rubio.