US, Iran close to finalising 14-point understanding to end Gulf war

The United States and Iran are close to finalising a memorandum of understanding to end the war in the Persian Gulf region, potentially bringing an end to the conflict that has lasted over two months.

A Pakistani mediator, two US officials, and other sources have confirmed to Axios that negotiations over a one-page memorandum to end the Gulf war are nearly complete. "We are about to end the war very soon. We have come very close," a Pakistani source said.

The Trump administration believes it is on the verge of a one-page memorandum of understanding with Iran, with the US expecting a response from Tehran on several key issues within the next 48 hours. The US State Department and the White House have not yet commented.

The 14-point memorandum has been drafted through direct and mediated discussions between US envoys Steve Witkoff and Jared Kushner and Iranian officials. Under the current draft, the document would declare an end to the war in the region and set a 30-day negotiation period for a detailed agreement.

The upcoming negotiations are expected to address ensuring the security of the Strait of Hormuz, limiting Iran's nuclear programme, and easing US sanctions. The agreement may include a temporary halt to Iran's uranium enrichment activities, the lifting of US sanctions, and the release of billions of dollars of frozen Iranian assets. Both sides would gradually lift restrictions on shipping through the strait.

However, if the negotiations fail, the US could reimpose the blockade or resume military operations.

Earlier, the US launched a naval operation called 'Project Freedom' aimed at ensuring vessel passage through the blocked strait, but the initiative proved ineffective and instead escalated Iranian attacks. A French shipping company has reported that one of its container vessels was attacked in the strait, and injured sailors had to be evacuated.

Iranian Foreign Minister Abbas Araghchi, during a visit to China, emphasised the need for a "just and complete agreement". He has also spoken with the Saudi foreign minister about the importance of diplomacy in reducing regional tensions.

Since US and Israeli strikes on February 28, Iran has effectively stopped all shipping through the Strait of Hormuz except for its own vessels. In April, the US imposed a separate blockade on Iranian ports. During the 'Project Freedom' operation, multiple vessels, including cargo ships, were damaged by Iranian drone and missile attacks. Iran has also launched attacks on coastal areas of the UAE, particularly targeting key oil export ports located outside the strait.