3 min readUpdated: May 24, 2026 05:44 PM IST
US President Donald Trump on Sunday said that Washington and Iran have “largely negotiated” a deal and a memorandum of understanding is expected to reach to reopen the Strait of Hormuz as expectations rose that a turning point is imminent in the nearly three-months old conflict in West Asia.
US Secretary of State Marco Rubio, who is on a visit to India, discussed the truce talks and noted that “significant progress, although not final progress has been made” in the negotiations. Rubio told reporters that he hoped there would be good news in the coming hours, AP reported.
Regional diplomacy and final negotiations
On Saturday, Trump announced that he had spoken with leaders from Bahrain, Jordan, Egypt, Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey and separately with Israel.
In a post on social media, the US president, without elaborating details, informed that “Final aspects and details of the deal are currently being discussed, and will be announced shortly.”
The deal between Washington and Tehran to halt the conflict in West Asia is poised to include Iran’s commitment that it won’t pursue a nuclear programme and agree to handover the highly enriched uranium to the American authorities, two regional officials told Associated Press.
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Terms of the 60-day ceasefire extension
A US official told Axios that the deal is expected to include a 60-day ceasefire extension wherein Hormuz, the critical waterway which is responsible for 20 percent of global oil supply, will be reopened and Tehran will be allowed to sell oil freely through sanctions waiver and talks would be held regarding Iran’s nuclear programme.
An official, who had direct information related to the negotiations, said that how Iran will give up its highly enriched uranium is a subject of further discussions which could happen in the 60-days extended truce period.
The official added that a part of the amount is likely to be diluted, while the rest would be transferred to a third country, potentially Russia, AP reported.
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Addressing enriched Uranium and frozen assets
The 441 kilograms of Uranium, which Iran possesses, has been enriched to a 60 percent purity which is just short of 90 percent, required for nuclear weapons grade level, the International Atomic Education Agency (IAEA) said.
The deal could also include the US military ending its blockade of Iranian ports. The release of Iran’s frozen assets is expected to be negotiated in the 60 day ceasefire extension, reports stated.
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