Listen to this article in summarized format Iran’s state television reported that a draft memorandum of understanding under discussion envisages the withdrawal of US military forces from areas around Iran and the lifting of the naval blockade imposed during the conflict. In return, Tehran has reportedly agreed to restore commercial transit traffic through the Strait of Hormuz to pre-war levels within a month. Military vessels, however, would remain outside the scope of the proposed arrangement. The latest proposal also indicates that Iran and Oman would jointly oversee shipping routes and traffic management through the narrow waterway, which handles nearly a fifth of global oil and LNG flows. The development comes amid growing global concerns over energy supply disruptions and elevated crude prices following months of instability in the Gulf region. Also read | Indian Navy deploys helicopter, boarding team after piracy alert For India and other major energy importers, any agreement leading to normalisation in Hormuz traffic could ease concerns over supply disruptions and crude price volatility. The waterway remains one of the world’s most critical energy chokepoints, making developments in the negotiations closely watched by global markets. Various recent reports had indicated that negotiators from both sides were working on a broader 14-point understanding aimed at ending hostilities and reopening shipping lanes. The framework discussions have included issues such as sanctions relief, release of frozen Iranian assets and freedom for Iran to resume oil exports. If a final deal is reached within 60 days, this agreement will be approved in the form of a binding un security council resolution, Iran's state TV said. Also read | Senior Ukrainian commander sees imminent 'turning point' in war The Islamabad memorandum framework is not yet finalised, Iran further said, adding that no step would be taken without "tangible verification". It may be noted here that the Strait of Hormuz has remained central to the negotiations since the outbreak of the conflict earlier this year disrupted global maritime trade and stranded hundreds of vessels in the Gulf. Tehran had earlier floated proposals to permit safe commercial passage through Omani waters if Washington agreed to de-escalation measures. Till now, despite signs of progress, several contentious issues have remained unresolved, including Iran’s nuclear programme and the future role of US military assets in the region. Reports suggest the proposed understanding could create a new window to allow negotiators to work toward a broader settlement. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Listen to this article in summarized format Iran’s state television reported that a draft memorandum of understanding under discussion envisages the withdrawal of US military forces from areas around Iran and the lifting of the naval blockade imposed during the conflict. In retur…
See this event through different lenses
Compare how Western, Iranian, Israeli, Global South, and Pro-Peace perspectives frame this event.
Compare PerspectivesLoading notes...
International mediators have proposed a 10-day ceasefire between the United States and Iran, according to a senior Iranian official cited in reports. The measure is described as intended to reduce hostilities and allow renewed talks on a prior interim agreement.
Both sides are assessing next steps in the current regional security situation.
Reports indicate that a US-Iran ceasefire has broken down amid renewed fighting, with the potential impact of mediation efforts by Pakistan, Qatar, and Oman remaining unclear. Earlier diplomatic steps included a June memorandum of understanding between the parties for further negotiations and talks hosted in Geneva in February.
The summary also references Europe’s historical role in diplomacy, including the 1814-15 Congress of Vienna.
Donald Trump stated in a Fox News interview that his representatives had spoken with Iranian officials an hour earlier and that those officials wanted to make a deal to end the conflict, though he noted they had broken prior agreements and expressed uncertainty about whether one would be reached.
He added that people do not want to die and that Iran would need to proceed carefully to avoid further losses. The remarks come amid an ongoing US-Iran conflict that has involved casualties and shipping disruptions in the Strait of Hormuz, with some social media users criticizing the repetition of similar statements.
Why the Iran-US ceasefire is falling apart Iran and the US have resumed fighting because they don’t see each other as ‘reliable negotiating partners’, says analyst Ali Vaez. Neither Iran nor the United States seems able to deliver a “knockout blow at an acceptable price” to the other side, and both know “they have no choice other than engaging in diplomacy”, but they’re not ready to make uncomfortable concessions, argues Ali Vaez, director of the Iran Project at International Crisis Group.
Vaez tells host Steve Clemons that Tehran and Washington are trying to “enforce their own interpretation” of the ceasefire agreement they signed last month. President Trump has become “frustrated” with diplomacy because he’s not seeing “the kind of quick results that he likes to see”, Vaez says.