US and Iran reach 60-day preliminary agreement: what is known so far

The United States and Iran have reportedly reached a preliminary memorandum of understanding (MOU) on Thursday (28 May 2026), agreeing to extend the ceasefire between the two countries by an additional 60 days and begin negotiations to permanently end the war, officials said.

US official sources told Al Jazeera that the framework still requires final approval from President Donald Trump. However, neither the US nor Iran has commented publicly on the MOU.

Iran's semi-official Tasnim news agency, citing a source close to the negotiating team, said the text of the MOU had not yet been finalized or confirmed, and that the public would be informed when it is.

Strait of Hormuz

According to media reports, the MOU will stipulate that shipping through the Strait of Hormuz is “unrestricted”, meaning no fees, no “harassment”, and Iran will have 30 days to remove all naval mines. The current US naval blockade of Iranian ports will also be lifted “in proportion to the restoration of commercial shipping” through the strait. The US will grant certain sanctions exemptions to Iran, allowing it to freely sell oil.

Control of the Strait of Hormuz has been a key sticking point in US–Iran peace negotiations. Iran has restricted shipping through the strait since early March, allowing some vessels from selected countries to pass but requiring them to negotiate with the Islamic Revolutionary Guard Corps (IRGC). Some ships have had to pay fees of up to $2 million. In response, the US began a naval blockade of Iranian ports in April, further disrupting global oil and gas supplies.

Iran's nuclear program

The MOU will also include Iran's commitment not to manufacture nuclear weapons. During the 60 days after the new agreement takes effect, the first issue to be discussed in peace negotiations will be Iran's uranium enrichment program and how to handle its stockpile of highly enriched uranium.

Iran is believed to hold approximately 440 kg of uranium enriched to 60%, just short of the 90% needed for weapons-grade material. Tehran insists its nuclear program is for civilian purposes only, but Israel, the US, and Western nations argue Iran is effectively preparing the capability to build nuclear weapons.

The US wants this stockpile to be handed over to them, but Iran has rejected that. Iran is reportedly open to considering transfer to a third party. However, last week, Iran's Supreme Leader Mojtaba Khamenei issued a directive that enriched uranium must not be sent abroad.

Aid and sanctions

The MOU is reported to include a mechanism for Iran to receive humanitarian aid. In addition, the US will commit to discussing the lifting of sanctions and the release of Iranian assets frozen overseas.

Lebanon

According to media reports, Israel's war in Lebanon would end as part of the agreement. Israel has been attacking strongholds of Iran-backed Hezbollah. Since 2 March, when Israel expanded its invasion into southern Lebanon, more than 3,000 people have been killed, including medical workers and civilians.

Diplomatic process

Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar is scheduled to meet US Secretary of State Marco Rubio in Washington, DC, on Friday to continue negotiations aimed at ending the war. Pakistan has been mediating between the parties. However, despite high-level talks, there has been a recent escalation of attacks from both sides.

Last week, US forces conducted a series of strikes near the Strait of Hormuz. On Thursday, US Central Command (CENTCOM) said it had shot down five Iranian attack drones and struck a ground control station in Bandar Abbas. Iranian attacks on US assets and energy infrastructure in the Gulf continue.

The MOU seeks a cessation of hostilities for 60 days, during which time the US and Iran will negotiate other issues such as sanctions relief. Axios quoted US officials as saying the Trump administration hopes to discuss Iran's support for regional proxy forces.