Potential deal could restore Hormuz traffic to pre-war level in 30 days, report says
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Ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. (Photo: VCG)

A potential deal between Iran and the United States stipulates that the number of ships able to transit the Strait of Hormuz would return to the pre-war level within 30 days, Iran's semi-official Tasnim news agency reported on Sunday.

Iran emphasized it would exercise its sovereignty over the Strait of Hormuz through various means, the details of which will be announced, Tasnim said, adding that the naval blockade against Iran must be fully lifted within 30 days.

A proposed agreement the United States and Iran are close to signing involves a 60-day ceasefire extension during which the Strait of Hormuz would be reopened, Iran would be able to freely sell oil, and negotiations would be held on curbing Iran's nuclear program, Axios quoted a US official as saying on Saturday.

US President Donald Trump also wrote on Saturday that a memorandum of understanding on a peace deal with Iran is "largely negotiated," as both countries and mediators in Pakistan reported progress.

Trump posted on social media that the emerging agreement ‌would reopen the Strait of Hormuz, the vital shipping passage whose closure upended global energy markets after the conflict started in February.

However, Iran's Fars news agency reported early on Sunday that the agreement would allow Iran to manage the Strait of Hormuz. It said Trump's assertion that an agreement was nearly final was "inconsistent with reality."

Iran says the nuclear issue is not part of current deal

Iran insists on not discussing its nuclear program at this stage, releasing its frozen assets prior to negotiations, and continuing its control and management over the Strait of Hormuz, citing an informed source close to the Iranian negotiating team, according to Fars news agency.

One key element of the proposed agreement between Iran and the United States is an apparent commitment by Tehran to giving up its stockpile of highly enriched uranium, according to two US officials, the New York Times reported.

A senior Iranian source told Reuters on Sunday ‌that Tehran has not agreed to hand over its highly enriched uranium stockpile. The ⁠source said Iran's nuclear issue was not part of the preliminary agreement with the United States.

"The nuclear issue will be addressed in negotiations for ‌a ⁠final agreement and are therefore not part of the current deal. There ⁠has been no agreement over Iran's highly enriched uranium ⁠stockpile to be shipped out of ⁠the country," said the source.