The United States and Iran are edging toward a temporary agreement to halt their war, sources and officials said on Thursday, with Tehran reviewing a proposal that would stop the fighting but leave the most contentious issues unresolved, Reuters reported.
Iran’s foreign ministry spokesperson said Tehran had not yet reached a conclusion on the emerging plan, which according to the sources centres on a short-term memorandum rather than a comprehensive peace deal, underscoring deep divisions between the two sides. Hopes that even a partial deal could lead to the reopening of the Strait of Hormuz pushed Brent crude down by about 3 percent on Thursday to around US$98 a barrel, after the contract had already tumbled nearly 8 percent on Wednesday following news of the one-page peace memo and US strike on an Iranian tanker.
Tehran and Washington have scaled back ambitions for a sweeping settlement as differences persist, particularly over Iran’s nuclear programme — including the fate of its highly enriched uranium stockpiles and how long Tehran would halt nuclear work. Instead, they are working toward a temporary arrangement set out in a one-page memo aimed at preventing a return to conflict and stabilising shipping through the strait, the sources and officials said.
The proposed framework would unfold in three stages: formally ending the war, resolving the crisis in the Strait of Hormuz, and launching a 30-day window for negotiations on a broader agreement. Tehran said Foreign Minister Abbas Araqchi held a phone call on Thursday with his Pakistani counterpart Ishaq Dar, with Islamabad continuing to lead mediation. “We remain optimistic… we expect an agreement sooner rather than later,” Pakistan foreign ministry spokesperson Tahir Andrabi said in Islamabad.
US President Donald Trump, who has played up the prospect of a breakthrough since the war began on February 28 with US-Israeli strikes on Iran, told reporters on Wednesday “they want to make a deal… it’s very possible,” adding “it’ll be over quickly.” The proposal would formally end the conflict — full-scale warfare was paused under the April 7 ceasefire — but leaves unresolved key US demands that Iran suspend its nuclear work and reopen the Strait of Hormuz.
In a sign of continued pressure, the US imposed sanctions on Thursday on Iraq’s deputy oil minister and three militia leaders over what it said was their support for Iran. Israel said it had killed a Hezbollah commander in a strike on Beirut a day earlier, the first Israeli attack on the Lebanese capital since a ceasefire there was agreed last month. A halt to Israeli strikes in Lebanon is another key Iranian demand in the talks.
Iranian officials signalled scepticism. Lawmaker Ebrahim Rezaei described the proposal as “more of an American wish list than a reality,” while Parliament Speaker Mohammad Baqer Qalibaf wrote on social media that “Operation Trust Me Bro failed,” portraying the talks as US spin after Washington’s failure to reopen the strait. Any sustained de-escalation would ease shipping insurance and freight premiums driving up Sri Lanka’s fuel import costs.
