TOI correspondent from Washington: The United States and Iran are edging closer to a diplomatic breakthrough, with both sides working to finalize a one-page memorandum that could open the door to longer-term negotiations and end the three-month long global ordeal.Senior US officials told Axios that a draft document — a 14-point memorandum of understanding — is now closer to finalisation than at any point since hostilities began in late February, following a flurry of back-channel contacts and mediated exchanges over the past 12 hours. Leaks about the one-page memo have come from only Washington, with Iran remaining circumspect about it. Iranian Foreign Minister Abbas Araghchi said Tehran — which appears to hold the diplomatic upperhand despite being militarily pulverized — is holding out for a “fair and comprehensive agreement,” without directly confirming acceptance of the draft memo. The proposed memo, seemingly an initiative from the US — whose President Donald Trump is trying to extricate himself from a war he expected to be short, swift and easy — is reported to be deliberately thin, a framework rather than a full treaty. But its elements are far-reaching. At its core is a mutual de-escalation deal: While the US would roll back economic and military pressure, lift sanctions, unfreeze Iranian assets and end its blockade, Iran would accept significant curbs on its nuclear program. In a social media post, Trump once again attributed to Pakistan and other intermediaries his dialing back on force. “Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed,” he said.A few hours later, even as Iran was weighing and filtering the proposals – through a very divided and scattered leadership, according to US officials – Trump threatened to resume hostilities if Teheran did not acquiesce. “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Ell allow the Hormuz Strait to be OPEN TO ALL, including Iran. If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” he wrote. According to US leaks, key provisions about the potential agreement – which in many ways echo the Obama deal that Trump had rejected and trashed – include the following: Nuclear freeze: Iran would accept a moratorium on uranium enrichment, with negotiators narrowing differences between Tehran’s proposal of five years and Washington’s demand for 20 years to a compromise window of roughly 12–15 years.Disposition of enriched uranium: Tehran has signaled openness to removing or neutralizing its stockpile of highly enriched uranium — a major shift from previous red lines.Sanctions relief: The US would begin lifting key economic sanctions and release frozen Iranian assets in phases tied to compliance.Hormuz de-escalation: Both sides would ease restrictions in and around the Strait of Hormuz, restoring commercial shipping lanes critical to global energy markets.Ceasefire mechanism: The memo would formalize an end to active hostilities and trigger a 30-day negotiating window to hammer out a detailed agreement.The structure reflects a pragmatic calculation in both capitals: stop the shooting first, resolve the hardest issues later. The most immediate signal of movement thought has come from Trump, who paused the US naval escort operation in the Strait of Hormuz – a cornerstone of Washington’s coercive strategy. The operation, part of a broader campaign to reopen shipping lanes and pressure Iran, had seen US forces escort tankers through contested waters. Its suspension, after limited success, was designed to “create space” for diplomacy and build confidence with Tehran, Trump said. He framed the move as tactical, citing “great progress” in negotiations, while maintaining that military options remain on the table if talks collapse.Iran, for its part, appears to have moved further than many analysts expected. In addition to signaling flexibility on enrichment limits and uranium stockpiles, Tehran has indicated willingness to guarantee safe passage for shipping in the Strait of Hormuz, a key US demand. But Iran also insists that sanctions relief be meaningful and front-loaded, and remains wary of US provisions to resume military action if negotiations falter – a clause reportedly embedded in the draft.Despite the momentum, several sticking points remain:
- Duration and verification of the nuclear freeze — the most contentious issue, with gaps still unresolved.
- Sequencing of sanctions relief vs. compliance — a classic trust deficit problem.
- Internal politics on both sides — hardliners in Tehran and skeptics in Washington could still derail the deal.
- Regional spillover — continued attacks in the Gulf, including reported missile and drone strikes, threaten to upset the fragile ceasefire environment.
