Delegations from Washington and Tehran have reached agreement on a draft memorandum of understanding, Axios reported, citing sources.
The draft was finalized on May 26 but has yet to be approved by US President Donald Trump or Iran's leadership.
The memorandum envisions an extension of the ceasefire and the launch of negotiations on Iran's nuclear program.
The Strait of Hormuz must be opened without any restrictions, and Iran is required to clear it of mines within one month.
Tehran also commits to continuing talks on uranium enrichment and the abandonment of its stockpiles of enriched uranium. The US, for its part, would be obliged to "discuss" the unfreezing of Iranian assets, the lifting of anti-Iranian sanctions, and the end of the blockade on Iran in line with progress on restoring shipping through the strait.
