US, Iran reach 60-day ceasefire deal reopening Strait of Hormuz, sources say
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Negotiators from the United States and Iran agreed on a 60-day memorandum that includes a temporary ceasefire, renewed nuclear talks, and the reopening of the Strait of Hormuz, U.S. officials familiar with the matter confirmed on May 28.
The agreement, first reported by Axios, comes after months of escalating conflict following U.S. and Israeli strikes on Iran that began on Feb. 28 and triggered the closure of the Strait of Hormuz.
Under the terms of the memorandum, commercial shipping through the strategically vital waterway will proceed without duties, delays, or attacks by Iranian forces.
Roughly one-fifth of global oil and liquefied natural gas shipments transit the strait daily, making disruptions there a major concern for international energy markets.
Iran declared the strait closed earlier this year after the outbreak of hostilities, prompting Washington to impose a naval blockade targeting Iranian ports.
The memorandum requires Tehran to remove all naval mines from the strait within 30 days. The U.S. agreed to gradually lift its naval blockade in proportion to the restoration of commercial shipping.
The deal also includes an Iranian commitment not to pursue nuclear weapons development.
During the 60-day period, negotiators will focus on the disposal of Iran's highly enriched uranium stockpiles and the future of Tehran's uranium enrichment activities.
Washington is also committed to discussions on easing sanctions, unfreezing Iranian assets, and establishing a mechanism to facilitate humanitarian aid and goods deliveries to Iran.
The deal is still pending U.S. President Donald Trump's approval, the U.S. officials said
Trump and his advisers had repeatedly signaled in recent weeks that a breakthrough with Tehran was close, though no formal agreement had previously materialized.
The conflict in the Middle East and the closure of the Strait of Hormuz contributed to volatility in global energy markets and prompted Washington to grant a sanctions waiver allowing purchases of Russian oil loaded onto vessels during a specified period.
The surge in oil prices has benefited Russia, boosting revenues from oil and gas exports as Moscow continues its full-scale war against Ukraine.
