A man rides his motorbike past a billboard installed alongside a road ahead of the US-Iran peace talks, in Islamabad, April 10, 2026. — Reuters
Iran and the United States are close to reaching a deal to end the war in the Middle East and reopen the Strait of Hormuz, according to reports by Reuters and Axios.
Axios first reported, citing US officials, that the White House believed it was closing in on a one-page memorandum to end the war, which began on February 28 following joint US-Israel strikes against Iran.
While Pakistan brokered a two-week ceasefire on April 8, following six weeks of war, Tehran and Washington failed to reach an agreement for a permanent end to hostilities in direct talks held in Islamabad between April 10 and 11.
Iran and the US are now closing in on an agreement on a 14-point memorandum of understanding (MoU) to end the war, Reuters reported, citing a source.
Axios shared insights into the MoU being negotiated between high-ranking officials from the US and Iran.
Here are the key highlights of the MoU;
In its current form, the memorandum would declare an end to the war in the region.
Start a 30-day period of negotiations on a detailed agreement to open Hormuz, limit Iran's nuclear programme, and lift US sanctions.
Iran's restrictions on shipping through the strait and the US naval blockade would be gradually lifted during the 30-day period.
If the negotiations collapsed, US forces would be able to restore the blockade or resume military action against Iran, a US official said.
US is actively negotiating the duration of the moratorium on Iran's uranium enrichment, with three sources saying it would be at least 12 years and one putting 15 as a likely landing spot.
Iran proposed a 5-year moratorium on enrichment, while the US demanded a 20-year moratorium.
Washington wants to insert a provision whereby any Iranian violation of enrichment would prolong the moratorium, the source said.
Iran, however, would be able to enrich to the low level of 3.67% after the provision expires.
Washington also seeks Tehran to commit to never seeking a nuclear weapon or conducting weaponisation-related activities.
Further, a US official said that the two sides are also discussing a clause whereby Iran would commit not to operate underground nuclear facilities.
Iran would also commit to an enhanced inspections regime, including snap inspections by UN inspectors, according to the US official.
On Washington's part, it would commit to a gradual lifting of the sanctions on Iran and the gradual release of billions of dollars in Iranian funds, frozen around the world.
Two sources also claimed Tehran would agree to remove its highly enriched uranium from the country, with one source saying an option was being discussed to move the material to the US.
