US and Iranian negotiators reach tentative deal to extend ceasefire and launch nuclear talks

U.S. and Iranian negotiators agreed Thursday to a tentative 60-day extension of the ceasefire in their ongoing conflict, alongside plans to resume negotiations on Iran’s nuclear program, according to a U.S. official familiar with the matter. Iran has not yet confirmed the deal, but Vice President JD Vance acknowledged its existence, though he noted uncertainty over whether President Donald Trump would approve it. The agreement remains under review due to unresolved language points. The proposed memorandum of understanding addresses critical concerns over the Strait of Hormuz, requiring Iran to remove all mines from the waterway within 30 days and prohibiting the imposition of tolls on shipping. Iran’s recent restrictions on the strait—once a conduit for about 20% of global oil and gas trade—have disrupted maritime traffic, with commercial vessels dropping from over 100 daily to around two dozen. U.S. Treasury Secretary Scott Bessent suggested oil prices could stabilize quickly once the deal is finalized, though Iran has already begun charging tolls for some ships. Under the agreement, the U.S. would gradually ease its naval blockade on Iranian ports and relax sanctions, allowing Iran to sell more oil. However, the U.S. Treasury Department simultaneously imposed new sanctions on Iran’s military oil sales arm, expanding economic pressure on Tehran. The conflicting measures highlight ongoing tensions as negotiations proceed. A key focus of the 60-day ceasefire will be Iran’s stockpile of highly enriched uranium, with the Islamic Republic holding 440.9 kilograms (972 pounds) enriched to 60% purity—just one technical step below weapons-grade levels of 90%, according to the International Atomic Energy Agency. The tentative deal was first reported by Axios, with details emerging as the fragile ceasefire faced recent instability, including Kuwait’s interception of Iranian missiles earlier this week.