US and Israel receive Pakistan-formulated peace plan: Reuters

The mediators have stepped up efforts for a ceasefire between Iran and the United States as sides have received a Pakistan-formulated plan to end hostilities that could come into effect on Monday and ‌reopen the Strait of Hormuz, a source aware of the proposals said on Monday.

Axios first reported on Sunday that the United States, Iran and regional mediators were discussing a potential 45-day ceasefire as part of a two-phase deal that could lead to a permanent end to the war, citing U.S., Israeli and regional sources.

“There are lesser chances of reaching to an initial understanding in next 48 hours”, sources said. “But this final effort is the only opportunity to halt dramatic escalation in the conflict,” they added.

A framework to end hostilities has been put together and exchanged with Iran and the U.S. overnight, a source said, outlining a two-tier approach with an immediate ceasefire followed by a comprehensive agreement.

“All elements need to be agreed today,” the source said, adding the initial understanding would be structured as a memorandum of understanding finalised electronically through Pakistan, the sole communication channel in ⁠the talks.

Under the proposal, a ceasefire would take effect immediately, reopening the Strait of Hormuz, with 15–20 days to finalise a broader settlement. The deal, tentatively dubbed the “Islamabad Accord,” would include a regional framework for the strait, with final in-person talks in Islamabad.

There was no immediate response from U.S. and ‌Iranian officials. ⁠

Iranian officials have previously told Reuters that Tehran was seeking a permanent ceasefire with guarantees they will not be attacked again by the U.S. and Israel.
They have said Iran has received messages from mediators including Pakistan, Turkey and Egypt.

The final agreement is expected to include Iranian commitments not to pursue nuclear weapons in exchange for sanctions relief and the ⁠release of frozen assets, the source said.