This was reported by Axios, citing two U.S. officials and a regional source involved in the mediation efforts. However, final approval of the document by President Donald Trump has not yet been received.
According to Axios, the sides have already agreed on most of the terms of the memorandum. Among them are ensuring free navigation through the Strait of Hormuz without duties and harassment, as well as Iran’s commitment to remove sea mines from the waters of the strait within 30 days.
The agreement should also pave the way for broader talks on Tehran’s nuclear program and potential easing of sanctions against Iran. That said, a number of details are still up for debate, and Washington recognizes that the deal could still fall apart.
But even this interim achievement seemed unlikely as recently as Thursday morning.
U.S. Vice President J.D. Vance later confirmed that the U.S. was close to an agreement.
“We haven’t reached it yet, but we’re very close, and we’re going to continue to work on it,” Vance told reporters.
