The United States and Iran are reportedly moving closer to finalising a one-page memorandum of understanding (MoU) aimed at ending the ongoing conflict in the Gulf region, according to a source involved in the mediation process through Pakistan.
The Pakistani intermediary source said the proposal aligns with earlier reporting by US media outlet Axios, which cited US officials and other individuals familiar with the negotiations. The source added that discussions are advancing rapidly, stating, “We will close this very soon. We are getting close.”
According to Axios, the White House believes progress has been made on a draft agreement that could bring an end to hostilities following a pause in a three-day US naval operation intended to reopen the Strait of Hormuz.
The proposed MoU reportedly includes key provisions such as Iran agreeing to halt uranium enrichment activities, while the United States would lift sanctions and release frozen Iranian financial assets. Both sides would also ease restrictions on maritime movement through the strategically important strait.
The draft, described as a 14-point framework, is being negotiated by US envoys Steve Witkoff and Jared Kushner along with Iranian officials, both directly and through mediators. It envisions an initial declaration to end hostilities, followed by a 30-day negotiation window for a detailed settlement covering nuclear restrictions, sanctions relief, and shipping rights.
During this period, both Iran’s maritime limitations and US naval restrictions would be gradually eased. However, Axios noted that if talks fail, military and blockade measures could reportedly be reinstated.
US President Donald Trump recently announced a temporary pause on “Project Freedom,” a naval mission launched to secure shipping through the Strait of Hormuz after Iran effectively restricted maritime traffic. The mission reportedly struggled to restore normal trade flows and coincided with increased tensions, including reported strikes on vessels in the region.
Iranian authorities, meanwhile, have continued to frame their position around securing what they describe as a “fair and comprehensive agreement.” Foreign Minister Abbas Araqchi said Tehran remains engaged in regional diplomacy, including discussions with Gulf states such as Saudi Arabia, to prevent further escalation.
Since late February, shipping through the Strait of Hormuz has been heavily disrupted amid escalating conflict between Iran, the United States and Israel. The situation has also led to reciprocal maritime restrictions and reported attacks on commercial vessels in the region, raising global concerns over energy security and international trade routes.
