Middle East and Africa
According to the Axios report, during the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely.
A vessel is anchored off the coast of Sharjah in the United Arab Emirates on May 21, 2026. Iran's new body overseeing the Strait of Hormuz said its claimed area of control extends to Emirati waters, drawing a sharp rebuke from the Gulf neighbour as the traffic through Hormuz, a vital global shipping conduit, has come under Iranian control since the outbreak of war with Israel and the United States on Feb. 28. (AFP/-)
The US and Iran are close to signing a deal involving 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 reported on Saturday, citing a US official. According to the Axios report, during the 60-day period, the Strait of Hormuz would be open with no tolls and Iran would agree to clear the mines it deployed in the strait to let ships pass freely.
In exchange, as part of the proposed deal, the US would lift its blockade on Iranian ports and issue some sanctions waivers to allow Iran to sell oil freely, the report added.
