US, Iran nearing one-page war-ending agreement, response expected within 48 hours

The United States and Iran are nearing a single-page document that could end their ongoing conflict, a source from Pakistan involved in the peace talks informed Reuters on Wednesday. This information aligns with a report from Axios, which cited two US officials. The source stated, "We will finalize this very soon. We are getting close." Pakistan's Foreign Minister mentioned that the nation is striving to ensure this agreement leads to a "permanent end" to the fighting. Axios reported that the US anticipates a response from Iran within 48 hours about the main points in a one-page, 14-point memorandum of understanding. An Iranian Foreign Ministry spokesperson later told CNBC that they are currently "evaluating" the proposal. This one-page document is expected to call for an end to hostilities and initiate a 30-day negotiation period. Key elements include both nations lifting their respective blockades on the Strait of Hormuz, as noted by Axios. The lifting of these blockades would be in return for the US removing sanctions and Iran agreeing to a 15-year halt on uranium enrichment. Additionally, Iran would consent to move its stockpile of highly enriched uranium outside its borders, possibly to the US. This document represents the closest the two nations have been to an agreement since the conflict began on February 28, according to Axios, which also pointed out that no final agreement has been reached yet. The report indicated that several important terms in the potential deal depend on reaching a future comprehensive agreement.