A draft memorandum of understanding between the United States and Iran reportedly outlines an agreement to end the naval blockade of Iranian ports and reopen the Strait of Hormuz to commercial traffic in exchange for a partial U.S. military pullback, according to details aired by Iranian state television.
The White House has rejected the report, describing the circulated document as a “fabrication,” and has not confirmed any of the reported terms. Officials say negotiations remain ongoing and no final agreement has been reached.
Under the reported framework, U.S. forces would withdraw from Iran’s immediate vicinity and lift restrictions on Iranian ports, while Tehran would restore commercial shipping through the Strait of Hormuz to pre-war levels within one month.
Iran and Oman would jointly oversee marine traffic, with military vessels excluded.
The memorandum is said to have been mediated by Pakistan and is being described by Iranian media as a roadmap for broader negotiations covering Iran’s nuclear program and long-standing U.S. sanctions.
If consensus is reached within 60 days, the draft could be elevated into a binding United Nations Security Council resolution.
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Negotiations remain fluid, with both sides reportedly revising language and key clauses. Iranian officials insist that no steps will be implemented without “tangible verification,” showing continued mistrust between the parties.
The Strait of Hormuz remains a strategic chokepoint through which roughly a fifth of global oil supply passes. Iran claims increased commercial traffic in recent days.
The reported deal comes against a backdrop of wider regional conflict. Israel continues military operations in Gaza and southern Lebanon, including strikes targeting Hamas and Hezbollah-linked infrastructure, further heightening tensions across the Middle East.
Inside Iran, political divisions have deepened over internet access and engagement with the West. While some authorities have begun restoring connectivity after a prolonged blackout, hardline factions continue to impose restrictions and oppose diplomatic concessions.
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Sanctions remain a central obstacle. The United States maintains extensive economic restrictions on Iran dating back decades, while Tehran is demanding significant relief as part of any agreement. Washington insists that nuclear concerns must be addressed first.
Diplomats familiar with the talks say progress has slowed over wording disputes in the draft text. U.S. Secretary of State Marco Rubio has indicated that additional time is needed to resolve outstanding disagreements.
Economically, the Strait of Hormuz is critical to global energy markets, and even small changes in shipping flows can affect oil prices and insurance costs.
A credible pathway to normalized traffic could ease market volatility, reduce shipping premiums, and stabilize energy supply chains, though uncertainty continues to keep prices sensitive to any escalation or breakdown in talks.
U.S. President Donald Trump is expected to convene his Cabinet as pressure mounts to resolve the conflict, balancing domestic political expectations with the risks of escalation or diplomatic failure.
