President Trump is considering whether to sign off on a 60-day memorandum of understanding that would extend the U.S.-Iran ceasefire in the Middle East, open the Strait of Hormuz and set the table for nuclear talks, a significant development in the three-month-old war.
The deal, if approved, would mark a breakthrough in the conflict after weeks of negotiations facilitated by Pakistan and U.S. allies such as Qatar.
The pending deal was first reported by Axios, and U.S. sources confirmed its veracity to The Washington Times.
The reported details include “unrestricted” navigation for ships in the vital Strait of Hormuz and a 30-day deadline for Iran to remove mines from the waterway.
The situation is fluid and unfolding against the backdrop of renewed strikes in the Gulf region.
Pakistan’s foreign minister, Ishaq Dar, is expected to meet with Secretary of State Marco Rubio on Friday in Washington, which could move things along.
Pakistan is a key mediator in the Iran conflict, and the Pakistani Foreign Ministry said the officials will “review bilateral relations and exchange views on regional and global developments of mutual interest.”
Negotiators have been working feverishly to strike a deal that brings peace to the Middle East and sets the table for a final agreement over Mr. Trump’s demands.
The president says his main goal is to prevent Iran from getting a nuclear weapon.
“The teams have been going back and forth,” Treasury Secretary Scott Bessent said at a White House press briefing, adding that Mr. Trump “has several red lines.”
Mr. Bessent did not disclose details of the draft plan, and he took pains to avoid getting ahead of Mr. Trump, who did not hold any public events Thursday and did not weigh in on the reported deal on social media or elsewhere.
Mr. Bessent said ultimately Iran must turn over its highly enriched uranium, cannot pursue a nuclear weapon and must reopen the Strait of Hormuz.
“President Trump is not going to make a bad deal for the American people,” Mr. Bessent said.
Even with approval, the reported deal would be an incremental step. Rather than ending the conflict, it would set the table for negotiations over Iran’s nuclear material and ambitions.
Negotiations facilitated by Pakistan and Gulf nations such as Qatar have proceeded in fits and starts for weeks, with sea skirmishes and exchanges of fire in the region complicating the talks.
Mr. Trump on Wednesday said he thinks Iran would like to make a deal, given the economic pressure it’s feeling from his blockade on Iranian ports, though he added the U.S. might have to resume military strikes.
He also said Arab and Muslim-majority countries should join the Abraham Accords to normalize relations with Israel as part of the broader Iran deal — a demand that could complicate an agreement.
The U.S. and Israel launched military strikes against Iran on Feb. 28 to stymie Iran’s nuclear ambitions, constrain its missile program and stop its support for terror proxies in the Middle East.
Early strikes killed top Iranian leaders and decimated the Islamic republic’s military. Iran retaliated by restricting maritime traffic in the Strait of Hormuz, a critical choke point for oil exports.
Both sides entered a ceasefire in early April to allow space for peace talks, though it has been difficult for the sides to reach a pact that satisfies Mr. Trump’s demands.
There were disturbances in the region Thursday. The U.S. military said Iran launched ballistic missiles toward Kuwait the day before as retaliation for defensive U.S. strikes on southern Iran earlier in the week.
U.S. Central Command, which oversees American military operations in the Middle East, wrote on social media that Kuwaiti forces successfully intercepted the attack but called the incident an “egregious ceasefire violation” and vowed to defend allied partners.
“U.S. Central Command and regional partners remain vigilant and measured as we continue to defend our forces and interests from unjustified Iranian aggression,” CENTCOM wrote on X.
Kuwait’s Ministry of Foreign Affairs issued a statement condemning the Iranian attacks as a “dangerous escalation” in the already deadly conflict.
Iran’s Islamic Revolutionary Guard Corps said Thursday that it launched strikes on an unnamed U.S. base in the region in retaliation for strikes targeting its drone facilities.
The statement, carried by Iranian state media, did not clarify the name of the base or its location. The U.S. operates 19 bases in the Middle East, with a military footprint of more than 40,000 personnel.
The Kuwait army said earlier Thursday that its air defenses were engaging with drones and missiles but did not clarify their origin or how many there were. The U.S. operates several military bases in Kuwait, including Ali Al Salem Air Base, a major Air Force hub.
Iran’s attacks were an apparent response to U.S. strikes on Iranian drone sites in the southern port city of Bandar Abbas on Thursday, marking the second round of American airstrikes this week.
Despite the flare-up, some in Iran pointed to tepid progress in peace talks.
Fada Hossein Maleki, who sits on the Iranian Parliament’s National Security and Foreign Policy Commission, said the U.S. accepted many of the Islamic republic’s demands but that Mr. Trump’s whims have kept diplomats from reaching a deal.
“The only concern is the unpredictability of Trump and the lapses in commitments that we have witnessed so far from the United States,” the lawmaker said.
Another politician, Mohammad-Reza Bahonar, said negotiations with the U.S. were continuing in a balanced way.
“Every step Iran takes must be matched by a reciprocal and practical step from the other side, and if they stop, we will stop as well,” Mr. Bahonar, who serves on the Expediency Council, said Thursday.
Meanwhile, Mr. Bessent said the U.S. plans to tighten its economic grip on Iran while negotiations proceed.
For instance, the U.S. will shut down Iranian airlines’ access to landing spots, refueling and ticket sales.
Mr. Bessent said the U.S. Navy formed a “wall of steel” around Iran to thwart the regime from exporting oil and gaining critical revenue. He said the U.S. blockade’s pressure is obvious throughout Iran.
“Their troops are not getting paid, the police are not reporting for work, and Kharg Island is shut down. The Iranian economy and currency are in free fall,” Mr. Bessent said on social media.
Kharg Island is a critical oil depot in the Persian Gulf off the Iranian coast.
Mr. Bessent said the Treasury Department is sanctioning anyone who cooperates with the Persian Gulf Strait Authority, an entity Tehran set up to control strait traffic and collect tolls.
Administration officials and global leaders say the Strait of Hormuz is an international waterway, so Iranian attempts to control it and impose tolls are illegitimate.
Iran’s clampdown has caused energy shortfalls and higher oil and gas prices since the start of the war.
The U.S. average price of a gallon of gas stood at $4.43 on Thursday, down from $4.56 a week ago but up 49% from when the war started, according to the AAA motor club.
“I think the oil market is going to be very well supplied on the other side of this, and we could see prices come down very quickly,” Mr. Bessent said. “Gasoline prices will follow.”
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