US, Iran nearing on a memo to declare end of war: media report

WASHINGTON: The United States and Iran getting close to a deal on a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations, Axios reported citing two U.S. officials and other sources.

The US expects Iranian response on several key points during the next 48 hours. The sources said this was the closest the parties had been to an agreement since the war began.

The deal would involve Iran committing to a moratorium on nuclear enrichment, the U.S. agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.

Many of the terms laid out in the memo would be contingent on a final agreement being reached.

The US and Iranian officials have been reported to be involved in negotiations, both directly and through mediators.

The memo under discussion in its present form would declare an end to the war and start of a 30-day period of negotiations on a detailed agreement to open the strait, limit Iran’s nuclear program and lift the US sanctions on Iran.