breaking

U.S., Iran Near 60-Day Ceasefire Extension as Strait of Hormuz Reopening Discussed

Negotiations between the United States and Iran are advancing toward a 60-day ceasefire extension with a framework for nuclear discussions, according to diplomatic sources. The tentative agreement would include a gradual reopening of the Strait of Hormuz, sanctions relief, and the phased unfreezing of Iranian assets overseas. Tehran is preparing a memorandum of understanding to conclude the current conflict before broader talks resume within 30 to 60 days. President Trump indicated Saturday he is "getting a lot closer" to an agreement and could announce a decision Sunday. A ceasefire has held since April 8, though sporadic skirmishes persist as both sides negotiate control of the critical shipping chokepoint. The ongoing conflict has triggered what Gulf states characterize as the worst global energy crisis in decades. Elevated fuel prices have contributed to inflation concerns and potential Federal Reserve rate increases.