The United States and Iran are reportedly nearing completion of an agreement that would extend a ceasefire for two months while reopening the Strait of Hormuz, according to a Saturday report from Axios citing a U.S. official.
The news outlet reports that under the proposed 60-day arrangement, the Strait of Hormuz would operate without tolls, and Iran would commit to removing mines it has placed in the waterway to ensure safe passage for vessels.
As part of the arrangement, the United States would end its blockade of Iranian ports and provide certain sanctions exemptions to permit Iran’s unrestricted oil sales, according to the report.
The potential agreement would also require Iran to pledge never to develop nuclear weapons and to enter discussions about halting its uranium enrichment activities while eliminating its stockpile of highly enriched uranium, Axios reported.
Two sources informed Axios that Iran has provided verbal assurances through intermediaries regarding the extent of concessions it would make concerning enrichment suspension and surrendering nuclear materials.
The United States would also commit to discussions about removing sanctions and releasing frozen Iranian assets during the two-month timeframe, according to the Axios report.
The White House has not yet responded to requests for comment from Reuters regarding the report.
