US media: US and Iran close to reaching memorandum agreement to end war

According to Odaily, citing Axios, two US officials and sources familiar with the matter revealed that the White House believes it is close to reaching an agreement with Iran on a one-page memorandum of understanding to end the war and establish a framework for subsequent, more detailed nuclear negotiations. The US expects to receive Iran's response on several key issues within the next 48 hours. Sources say this is the closest the two sides have come to an agreement since the outbreak of the war. Under part of the agreement, Iran would commit to suspending uranium enrichment activities, while the US would agree to lift sanctions on Iran and release billions of dollars in frozen Iranian funds. Both sides would also lift restrictions on transit through the Strait of Hormuz. This single-page, 14-clause memorandum of understanding is being jointly negotiated by Trump envoys Witkoff and Kushner with multiple Iranian officials through both direct contact and mediation. According to the current version, the memorandum would declare an end to the regional war and initiate a 30-day negotiation period to reach a detailed agreement, covering the opening of the strait, limits on Iran's nuclear program, and the lifting of US sanctions. These negotiations could be held in Islamabad or Geneva. A US official stated that during these 30 days, Iran's restrictions on shipping through the strait and the US naval blockade would be gradually lifted. However, if negotiations fail, the US military would be able to reinstate the blockade or resume military action.