The U.S. and Iran are reportedly discussing a phased plan to reopen the Strait of Hormuz after a potential agreement to end hostilities, according to a Nikkei report citing a Middle East diplomatic source.

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.

The Iranian authorities have also proposed "discussing the issue of sanctions and frozen assets before signing any agreement

The US and Iran are close to signing a 60-day ceasefire agreement that would reopen the Strait of Hormuz, allow Iran to freely export oil, and begin negotiations on curbing…

The U.S. and Iran have agreed in principle to reopen the Strait of Hormuz, New York Times reports, citing a U.S. official. The official said I...