The United States and Iran have reached a preliminary agreement to extend their current ceasefire by 60 days and ease restrictions on shipping through the strategically vital Strait of Hormuz, according to sources familiar with the negotiations. The proposed deal, which still requires approval from U.S. President Donald Trump and Iran’s leadership, is aimed at maintaining stability while both sides continue discussions on contentious issues, including Iran’s nuclear program. However, Iran’s Tasnim news agency reported that the agreement has not yet been finalized or officially confirmed.
U.S. Vice President JD Vance expressed optimism about the progress, stating that negotiators were “very close” to securing a lasting arrangement. The proposed agreement would reportedly allow unrestricted commercial shipping through the Strait of Hormuz, lift the U.S. blockade on Iranian ports, and ease certain sanctions on Iranian oil exports. News of the potential breakthrough led to a decline in global oil prices, reflecting hopes that one of the world’s most important energy transit routes could remain open and stable.
Despite the diplomatic progress, tensions remain high. Recent exchanges included U.S. strikes on Iranian drones near Bandar Abbas and an Iranian missile launch intercepted by Kuwaiti forces. Both countries have accused each other of provoking the incidents, underscoring the fragility of the ceasefire. The conflict, which began in February, has disrupted regional stability and global energy markets, while broader disputes over Iran’s nuclear activities, sanctions relief, and regional security continue to complicate efforts toward a permanent peace agreement.
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