The US and Iran are close to signing a memorandum to end the war.

Written by: Mohamed Ragab

Sources familiar with the negotiations revealed that the United States Iran They are nearing a preliminary agreement to end the Gulf war, through a brief, one-page memorandum of understanding containing about 14 key points, according to Reuters.

A source confirmed PakistaniHe is involved in the mediation efforts, confirming the accuracy of previous reports indicating that an agreement was close, noting that the talks are “very close to their end,” given Islamabad’s continued role as a key mediator between the two sides.

Terms of Agreement

According to the leaks, the memorandum includes Iran's commitment to halt uranium enrichment, in exchange for the United States agreeing to lift sanctions and release billions of dollars of frozen Iranian funds.

The agreement also includes easing restrictions on navigation in the Strait of Hormuz, which will contribute to restoring stability to one of the world's most important maritime energy transit routes.

Transition period and detailed negotiations

The memorandum is expected to announce the end of military operations, followed by the start of a 30-day transition period, during which a comprehensive agreement will be negotiated that addresses the permanent opening of the strait, limiting the Iranian nuclear program, and establishing clear mechanisms for the gradual lifting of sanctions.

If these negotiations fail, it is estimated that a return to escalation is possible, including the resumption of the naval blockade or military operations.

News of an imminent agreement led to a sharp decline in global oil prices, with Brent crude futures falling by more than 8% to near $100 a barrel.

In contrast, global stock markets saw a significant rise, with bond yields declining, amid investor optimism that the war, which caused major disruptions to energy supplies, was ending.

US moves and suspension of a naval mission

In a related development, Donald Trump announced the suspension of a naval mission that was intended to reopen the Strait of Hormuz, citing "great progress" in negotiations with Iran, without disclosing further details.

He explained that the suspension of the operation is intended to allow for the completion of the potential agreement, while maintaining the naval blockade as a temporary precautionary measure.

Washington expects to receive an official response from Tehran within 48 hours regarding the outstanding issues, while Iranian sources confirmed that the American proposal is still under consideration.

For his part, Iranian Foreign Minister Abbas Araqchi stressed his country’s commitment to reaching a «fair and comprehensive agreement,» indicating that negotiations would continue despite the complexities.

This advance comes after a military escalation that saw ships targeted in the strait, with a French shipping company reporting that one of its vessels was attacked, resulting in injuries among the crew.

The anticipated agreement is seen as a crucial step towards calming tensions in the region and restoring stability to global energy markets, amid widespread international anticipation of the outcome of these negotiations.