• Modalities for reopening Strait of Hormuz await Trump’s approval

• WEF: expected impact of shipping route closure to near Covid-19 severity

Emmanuel Addeh in Abuja and Dike Onwuamaeze in Lagos

United States and Iranian negotiators reached a tentative agreement yesterday to extend the ceasefire in the three-month-old American/Israeli war against Iran by 60 days and launch talks on Iran’s nuclear programme, according to a U.S. official familiar with the matter.

Iran did not immediately confirm any deal, and the official stated that President Donald Trump had yet to sign off on it, AP reported. A separate report stated that modalities for the reopening of the Strait of Hormuz and removing all mines along the route were also being discussed.