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WASHINGTON – United States and Iranian negotiators have reportedly reached a framework agreement to extend the current ceasefire for an additional 60 days, although the proposal still requires approval from US President Donald Trump, according to sources familiar with the discussions.
The agreement, first reported by Axios and later confirmed by US sources speaking to AFP, outlines a memorandum of understanding that would prolong the truce between the two nations, reopen the strategically vital Strait of Hormuz, and initiate negotiations on Iran’s nuclear programme.
Neither President Trump nor Iranian officials immediately confirmed the reported agreement.
Speaking at the White House, US Treasury Secretary Scott Bessent stopped short of confirming the existence of a deal but indicated that negotiations had made significant progress.
“We perhaps have the makings of a deal here,” Bessent said, noting that discussions between both sides have continued intensively.
According to Bessent, President Trump has established several non-negotiable conditions for any agreement. These include Iran surrendering its stockpiles of enriched uranium, committing not to pursue nuclear weapons, and guaranteeing unrestricted navigation through the Strait of Hormuz.
“President Trump has made it very clear that he has several red lines,” Bessent stated. “He’s not going to take a bad deal. He’s going to make a great deal for the American people.”
The proposed arrangement reportedly requires Iran to ensure free passage for commercial shipping through the Strait of Hormuz, including the removal of naval mines within 30 days and an end to any interference with maritime traffic. In return, the United States would gradually ease restrictions on Iranian ports in line with the restoration of commercial shipping activity.
The memorandum is also said to include an Iranian commitment not to develop nuclear weapons, with early negotiations expected to focus on the future of Iran’s enriched uranium stockpiles.
President Trump reiterated during a Cabinet meeting on Wednesday that he remains unsatisfied with some of Iran’s proposals and warned that military action remains an option if diplomatic efforts fail.
Despite the reported breakthrough, tensions remain high. Both Washington and Tehran accused each other of violating the ceasefire earlier on Thursday following reports of renewed exchanges of fire.
However, Bessent insisted that the ceasefire remains in effect and emphasised that the administration continues to prioritise a diplomatic resolution.
“President Trump always prefers a peace deal,” he said. “Everything we have done thus far has been defensive, and at present that’s what we’ll continue doing.”
Bessent also sought to reassure markets over the economic impact of the conflict. While oil prices surged following disruptions linked to the Strait of Hormuz, he expressed confidence that energy markets would stabilise.
“I believe, and the futures market is showing us, oil will be lower than pre-conflict levels,” he said, while acknowledging that economic conditions remain challenging.
The reported framework agreement represents the most significant diplomatic progress since the conflict escalated earlier this year and could pave the way for broader negotiations on regional security and Iran’s nuclear activities if formally approved by both governments.