US, Iran Agree On Ceasefire Deal, Trump Yet To Approve It: Report

The United States and Iran have agreed on a framework deal for a 60-day ceasefire extension, but the memorandum of understanding still needs US President Donald Trump's approval.

Sources told news agency AFP that the two nations had reached an agreement on extending the ceasefire and to launch negotiations on Iran's nuclear programme.

According to an Axios report, Iran has also not agreed to the deal yet. The report mentioned that the framework of the deal has been worked on and "mostly agreed" to as of Tuesday, but the senior leadership of both parties still needs to give their approval.

Although Trump has been briefed on the details about the deal, he did not sign off on it immediately and said that he "wants a couple of days to think about it", Axios reported quoting a US official.

Nuclear Weapon, Uranium, Hormuz, Iran Oil: What's In The Deal

The 60-day memorandum of understanding will include the free flow of shipping through the Strait of Hormuz. That means the Islamic Republic would not be able to levy tolls from ships passing the strategic chokepoint. A US official told the publication that there would be "no harassment" in the strait and that Iran would also be required to remove all mines from the waterway within 30 days.

As for the US naval blockade, the US official said that it will be lifted in proportion to the level of commercial shipping restored through the Strait of Hormuz.

Another important point in the framework deal would be sanctions, and the US is ready to issue some sanctions waiver so that Iran can sell oil freely.

The report states that the deal will include Iran's commitment to not pursue a nuclear weapon. During the 60-day ceasefire period, the two sides will negotiate how Iran's highly enriched uranium will be disposed of and the course of action around Iranian enrichment.

Frozen Iranian funds and sanctions are two areas which the US will commit to discussing during the negotiations.

"The more the Iranians are willing to give the more they will get," a US official said.

The development came after Washington and Tehran accused each other of violating an ongoing truce following an exchange of fire, three months after the conflict began with US-Israeli strikes on the Islamic republic.

The provisional agreement is significant as it arrived just days after the most serious trading of fire since the ceasefire started in April, rattling ongoing diplomatic efforts to end the war.