Tentative 60-Day US-Iran Ceasefire Awaits Trump Approval

Donald Trump announced on Saturday that a memorandum of understanding with Iran has been largely negotiated and would soon reopen the Strait of Hormuz, the vital shipping lane closed since the US and Israel began their military campaign against Tehran in February. The president posted on his Truth Social platform that final details were under discussion following calls with leaders from Saudi Arabia, the UAE, Qatar, Pakistan, Turkey, Egypt, Jordan, Bahrain and Israeli Prime Minister Benjamin Netanyahu.

Pakistani officials, who have served as mediators, echoed a measure of optimism. Prime Minister Shehbaz Sharif said another round of talks could occur very soon, while Foreign Minister Ishaq Dar described meaningful progress. US Secretary of State Marco Rubio likewise pointed to significant advances, hinting at further developments on the strait itself.

Yet Iranian state media moved quickly to challenge the American account. Fars News Agency, affiliated with the Islamic Revolutionary Guard Corps, reported that the latest draft leaves management of the strait, including routing, timing and permits, under Iranian control. The agency described Trump’s assertions as inconsistent with reality and stressed that Tehran would not cede authority over the waterway.

Reports from Axios and other outlets outlined elements under discussion. The draft reportedly calls for no tolls on shipping, the removal of mines placed by Iran, and the lifting of the US blockade on Iranian ports along with some sanctions relief to allow oil sales. In return, Iran would commit not to pursue nuclear weapons. However, Iranian officials told the New York Times that no agreement exists on the nuclear file and that any such talks would occur only during a proposed 60-day ceasefire period. Washington’s demand for the removal of Iran’s enriched uranium stockpile remains unresolved.

The three-month closure of the strait has already produced sharp economic strain. Spot crude prices have climbed roughly $100 a barrel, strategic reserves have been drawn down at record rates, and analysts warn that further depletion risks a disorderly market adjustment. The International Energy Agency has repeatedly flagged the pace of inventory losses, while rerouting and reduced Chinese imports have so far prevented an outright supply shock.

Israeli officials are scheduled to review the proposed terms in a security cabinet meeting Sunday evening. Netanyahu’s government has maintained a hard line throughout the conflict, and any final accord would require its acquiescence on security guarantees.

Despite the flurry of statements, core disputes persist over Iran’s nuclear program, the future role of Tehran-backed groups in Lebanon, and the precise terms of any ceasefire. Pakistani army chief Syed Asim Munir has shuttled between the parties, yet both sides continue to signal that substantial gaps remain. The coming days will test whether the latest round of diplomacy can bridge those differences or simply extend the pattern of competing claims.