A potential agreement between the US and Iran could reopen the Strait of Hormuz and allow shipping traffic to return to pre-war levels within 30 days, although key points of disagreement remain.
US President Donald Trump announced on his social media platform Truth Social on Saturday that an agreement between the US, Iran and several other countries in the region had been “largely negotiated” and that final details would be announced soon.
The proposed memorandum of understanding includes reopening the Strait of Hormuz as well as talks aimed at formally ending the US-Israel war on Iran, Al Jazeera reports.
The strait has been closed to most shipping traffic since the war began on February 28, disrupting one of the main routes for global oil and gas shipments.
However, Iranian officials say there are still major points of disagreement, particularly regarding the status of the Strait of Hormuz, Iran’s nuclear programme and conflicts involving Tehran-backed groups in Lebanon.
The proposed deal is expected to be implemented in stages, Reuters reports. This includes formally ending the war, resolving the Strait of Hormuz crisis, and opening a 30-day negotiation window for a broader agreement on sustained peace, which could be extended.
The potential deal also stipulated that the number of ships able to transit the Strait of Hormuz would return to the pre-war level within 30 days, according to Iran’s semi-official Tasnim news agency, Reuters said.
