U.S. and Iranian negotiators have reportedly reached agreement on a 60-day memorandum of understanding to extend the ceasefire and begin negotiations on Iran's nuclear program, but President Trump has yet to give his final approval.

This is what two U.S. officials and a regional source involved in the mediation efforts told Axios. According to the U.S. sources, the memorandum will stipulate that navigation through the Strait of Hormuz will be "unrestricted," meaning no tolls, and that Iran must remove all mines from the strait within 30 days.

According to Axios, the US naval blockade will also be lifted, but only in proportion to the restoration of commercial maritime traffic. Officials said the memorandum of understanding will include Iran's commitment not to pursue nuclear weapons development. The document will also establish that the first issues to be negotiated during the memorandum's 60-day term will concern the disposal of Iran's highly enriched uranium and strategies to address Iran's uranium enrichment.

The United States will commit to discussing sanctions relief and the release of frozen Iranian funds as part of the negotiations. The memorandum of understanding will also include discussion of a mechanism to help Iran begin receiving goods and humanitarian aid.

U.S. officials said the terms of the deal had been substantially agreed upon on Tuesday, but both sides still needed to get top-level approval.

(Unioneonline)