The United States is reportedly close to reaching a one-page memorandum of understanding with Iran aimed at ending the ongoing conflict and creating a framework for detailed nuclear negotiations. Washington expects a response from Tehran within 48 hours, though no final agreement has been secured. Officials describe this as the closest both sides have come to ending hostilities since joint United States and Israeli strikes on Iran began on February 28.

The proposed 14-point draft would require Iran to commit to a moratorium on nuclear enrichment in exchange for the lifting of sanctions and the release of billions in frozen Iranian funds. Both sides would also ease restrictions affecting transit through the Strait of Hormuz, a vital route for roughly one-fifth of the world's crude oil supply.

The memorandum would formally declare an end to the conflict and launch a 30-day negotiation period to finalize a broader agreement. During that time, shipping restrictions and naval blockades would be gradually rolled back. However, if talks collapse, Washington could reinstate the blockade or resume military action. Iran has stated it will only accept a deal it considers fair, following earlier ceasefire efforts that failed to produce a breakthrough.