US-Iran Talks Reach Final Stage Over One-Page Memorandum to Halt War in Gulf: Report

The United States and Iran are moving closer to a possible agreement aimed at ending the ongoing conflict in the Gulf, with negotiations reportedly centring around a one-page memorandum that could pave the way for a broader settlement. According to a Pakistani source familiar with the mediation efforts, discussions are progressing quickly and both sides are nearing a breakthrough.

"We will close this very soon. We are getting close," the Pakistani source said.

The development comes as tensions remain high in West Asia following months of conflict involving the Strait of Hormuz, one of the world's most strategically important shipping routes.

14-Point Memorandum at Centre of Negotiations

A report by Axios, citing U.S. officials and sources familiar with the talks, stated that the White House believes a preliminary agreement could soon be finalised. The proposed memorandum reportedly contains 14 points and is being negotiated by U.S. envoys Steve Witkoff and Jared Kushner along with Iranian officials through both direct channels and mediators.

Under the proposed framework, Iran would agree to a moratorium on nuclear enrichment, while the United States would ease sanctions and release billions of dollars in frozen Iranian assets. The agreement would also focus on restoring movement through the Strait of Hormuz, where shipping has been severely disrupted since the conflict escalated earlier this year.

The memorandum, in its current form, would officially declare an end to the regional war and launch a 30-day negotiation period for a more detailed long-term agreement covering nuclear restrictions, sanctions relief and maritime access.

Axios also reported that Washington expects Iran's response on several unresolved points within the next 48 hours. The White House and the U.S. State Department have not yet issued official comments on the report.

Trump Suspends 'Project Freedom'

The diplomatic push gained momentum after U.S. President Donald Trump announced a temporary pause to "Project Freedom", the naval mission launched earlier this week to escort commercial ships through the Strait of Hormuz.

The mission had struggled to restore shipping traffic and instead triggered further Iranian attacks on vessels and nearby regional targets. In the latest incident, a French shipping company confirmed that one of its container ships was struck in the strait, leading to the evacuation of injured crew members.

Announcing the suspension of the operation, Trump said there had been "great progress" in negotiations with Tehran.

"We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed," Trump wrote on social media.

According to the Axios report, restrictions imposed by both sides would gradually be eased during the proposed 30-day negotiation period. However, a U.S. official reportedly said military action or naval blockades could resume if talks fail.

Iran Pushes for 'Fair and Comprehensive Agreement'

Iran's Foreign Minister Abbas Araqchi did not directly comment on Trump's latest announcement during his visit to China, but reiterated Tehran's position on the negotiations.

He said Iran was seeking "a fair and comprehensive agreement".

Araqchi also revealed in a social media post that he had spoken with Saudi Arabia's foreign minister and stressed the need for diplomacy among regional powers to avoid further escalation.

Iran had earlier proposed its own 14-point framework, which reportedly suggested delaying discussions on nuclear issues until the war and shipping crisis were resolved.

Strait of Hormuz Remains a Flashpoint

The Strait of Hormuz has effectively remained shut to most international shipping since the United States and Israel launched military operations against Iran on February 28. In response, Washington imposed additional blockades on Iranian ports in April.

Iran has expanded its military operations in the region during the standoff, targeting commercial vessels and strategic infrastructure. Several ships have reportedly been hit by Iranian drones and missiles in recent weeks, including a South Korean cargo vessel that suffered an explosion in its engine room.

Tehran has also carried out strikes in the United Arab Emirates, including attacks targeting key oil export infrastructure outside the strait.

The situation has raised global concerns over energy supplies and maritime security, making the ongoing negotiations one of the most closely watched diplomatic efforts in the region.