U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding, which includes extending the ceasefire and launching talks on Iran's nuclear program, though the deal still requires final approval from Trump. According to Axios, citing two U.S. officials and one regional intermediary source involved in the mediation, Iran has not yet confirmed acceptance of the arrangement. If formally signed, this memorandum would represent the most significant diplomatic breakthrough since the outbreak of the Iran war. However, the report notes that this is merely a framework to initiate subsequent negotiations, and there remains a considerable distance before addressing the core demands of the Trump administration regarding Iran’s nuclear project; further intensive talks will be needed to reach a final agreement. Meanwhile, Bessent warned Oman on Thursday against directly or indirectly participating in any arrangement to levy tolls in the Strait of Hormuz, stating that the United States would penalize partners involved in such mechanisms. Bessent emphasized that the U.S. government will not tolerate any attempts to establish a toll system in the Strait of Hormuz, specifically naming Oman and stating that the U.S. Treasury will actively identify and target those assisting in such efforts. The Strait of Hormuz is a critical global energy transit route, and this warning indicates that even as U.S.-Iran diplomatic contacts advance, Washington continues to seek to prevent regional tensions from spilling over into energy shipping regulations and maritime passage arrangements.
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