Iran-U.S. proposed framework would unfold in three stages: formally ending the war, resolving the crisis in the Strait of Hormuz and launching a 30-day window for negotiations on a broader agreement, which can be extended, as per Reuters report.

Mediators say proposal would extend the ceasefire, gradually reopen Hormuz and ease pressure on Iranian ports, while delaying detailed nuclear negotiations for a later phase

A fragile ceasefire has been in place since April 8, punctuated by skirmishes as the U.S. and Iran jockey over the Strait of Hormuz.