A tentative agreement between Iran and the United States to halt months of cross-border attacks could soon reopen the Strait of Hormuz, restoring one of the world’s most important energy corridors and easing fears of a broader regional war.
Iran’s foreign minister Seyed Abbas Araghchi was quoted by Iranian state television as saying that negotiators are close to finalising a memorandum of understanding that would both end active hostilities and lift a US naval blockade on Iranian shipping. He said top members of the Supreme National Security Council remain divided over the text, but described himself as "very hopeful" that a deal could be approved within days.
US officials, in a detailed briefing to journalists reported by the BBC, outlined a phased plan in which the waterway would be reopened quickly, while Washington would in return begin rolling back restrictions on Iranian vessels. They said economic benefits for Tehran – such as staged sanctions relief and the potential unfreezing of assets – would only arrive once inspectors verified that Iran had carried out the steps it had promised.
The conflict erupted in late February, when US and Israeli strikes hit targets inside Iran. Tehran responded with attacks on Israel and US-allied states around the Gulf, and by moves that effectively shut the narrow Strait of Hormuz. The route normally carries about a fifth of the world’s traded oil and liquefied natural gas, so disruption has rattled energy markets and raised fears of global price spikes.
Under the emerging outline, the reopening of Hormuz and lifting of the blockade would be followed by a 60-day negotiating window focused on Iran’s stockpile of enriched uranium – material Western governments say could be used to build nuclear weapons. US officials were quoted by the BBC as saying the aim is for that stock to be destroyed on site and then removed from the country, although they acknowledged that the technical mechanism for doing so is still being worked out.
For years, Western powers have accused Iran of seeking a nuclear weapons capability, while Tehran maintains its programme is strictly civilian, aimed at power generation and scientific research. Analysts say this new phase of talks will test whether both sides are willing to return to a more comprehensive nuclear agreement after the collapse of previous accords.
The memorandum also calls on Iran to curb funding and arms supplies to allied groups across the Middle East, including Hezbollah in Lebanon. US officials said the understanding is based on "performance" rather than trust, with each step by Washington linked to specific verified actions from Tehran.
Pakistan and Qatar, which have taken on key mediation roles, have both spoken publicly of a rare sense of cautious optimism. Pakistani Prime Minister Shehbaz Sharif has said the text of a memorandum has already been agreed in principle and is awaiting formal approval.
Yet previous efforts to end the fighting have collapsed at the last minute, and there is still no guarantee that clashes will stop even if Washington and Tehran sign the document. Israel is not directly involved in the talks and has repeatedly signalled it will keep striking Iranian-backed forces, particularly Hezbollah, if rocket and drone attacks on its territory continue.
Regional analysts quoted by the BBC say the coming days will show whether the parties can translate this fragile framework into real de-escalation, or whether Hormuz – and the broader Gulf – will remain on edge.
