US media: The US and Iran are close to reaching a memorandum of understanding to end the war.

According to Axios, two U.S. 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 more detailed nuclear negotiations. The U.S. expects to receive a response from Iran 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 start of the war. Under part of the agreement, Iran would pledge to suspend uranium enrichment activities, while the U.S. would agree to lift sanctions on Iran and release billions of dollars in frozen Iranian funds. The two sides would also lift restrictions on passage through the Strait of Hormuz. This one-page, 14-article memorandum of understanding is being negotiated by Trump's special envoys Witkov and Kushner with several Iranian officials through both direct contact and mediation. The current version of the memorandum would declare an end to the regional war and initiate a 30-day negotiation period to reach a detailed agreement that includes opening the Strait, limiting Iran's nuclear program, and lifting U.S. sanctions. These negotiations may take place in Islamabad or Geneva. A U.S. official stated that during the 30-day period, Iran's restrictions on shipping through the Strait of Hormuz and the U.S. naval blockade will be gradually lifted. However, if negotiations break down, the U.S. military will be able to reinstate the blockade or resume military action.