President Trump said Saturday on Truth Social that an agreement involving the United States, Iran, and several regional countries had been “largely negotiated” and that the Strait of Hormuz will be reopened. “Final aspects and details of the Deal are currently being discussed, and will be announced shortly,” Trump wrote. The post arrived after a weekend flurry of regional diplomacy and represents the most concrete signal yet that the months-long U.S.-Iran war is approaching a negotiated resolution.
The structure under discussion is a 60-day ceasefire extension serving as a memorandum of understanding (MOU) first phase, with a final deal to be negotiated over 30 to 60 days. According to a U.S. official briefing Axios, during the 60-day window the Strait of Hormuz would be open with no tolls, Iran would clear the naval mines it deployed during the conflict to let ships pass freely, and the United States would lift its naval blockade on Iranian ports while issuing some sanctions relief. Parallel negotiations would begin on Iran’s highly enriched uranium stockpile and frozen Iranian assets.
The Washington Post and Financial Times reported the framework citing senior administration officials and mediators briefed on the talks. Iran’s foreign ministry spokesperson Esmail Baghaei described the draft as a “framework agreement” on Iran state TV and confirmed the 30-to-60-day window: “We want this to include the main issues required for ending the imposed war and other issues of essential importance to us. Then, over a reasonable time span, between 30 to 60 days, details are discussed and ultimately a final agreement is reached.” Baghaei said nuclear issues are not part of current negotiations and that lifting sanctions has been “explicitly included in the text.”
The diplomatic push reflects intensive regional pressure. Pakistani and Qatari negotiators held talks with Iranian counterparts Thursday and Friday while staying in regular contact with U.S. envoy Steve Witkoff, per Financial Times reporting. Saudi Arabia, the UAE, Qatar, Turkey, Egypt, Jordan, and Bahrain are all pressing Washington to accept the framework, with Gulf states warning that further military escalation could prompt Iran to retaliate against neighbors. Trump credited the regional partners in his Truth Social statement.
Sticking points remain. Iran’s Fars news agency reported the strait “would remain under Iran’s management” per the latest exchanged text, and Iran’s foreign ministry said Tuesday that navigation through Hormuz “will have costs” — reigniting concerns about a permanent transit-fee regime. Secretary of State Marco Rubio said any deal could still take several more days to complete, with unresolved issues including Tehran’s frozen assets and Iran’s hesitation to guarantee unrestricted passage. The Trump administration was reportedly preparing on Friday for a fresh round of military strikes against Iran even as indirect diplomacy continued — CBS News reported the dual track.
Markets responded to the deal-progression signals. WTI crude briefly fell below $90 a barrel Monday for the first time in almost three weeks, while Brent traded around $98-$99 Tuesday near five-week lows. AAA’s national gasoline average slipped to $4.491 Tuesday from $4.552 on Friday. Energy executives still warn that full normalization of Middle East oil supply may not occur until 2027 due to the scale of disruption caused by the conflict, per a recent note by MUFG.
Continuing coverage: Geopolitics · Iran · Strait of Hormuz Explainer.