West Asia Situation: US and Iran reported to be close to an agreement to end conflict

By  News On Air   May 05, 2026

Mediators say the United States and Iran are close to a preliminary agreement that could bring an end to the conflict in the Gulf. Sources familiar with the talks say both sides are working on a one-page, 14-point memorandum of understanding.The proposed deal includes Iran agreeing to pause nuclear enrichment, while the United States would ease sanctions and release billions of dollars in frozen Iranian funds. Both sides are also expected to relax restrictions on movement through the Strait of Hormuz.

Officials say this would be followed by a 30-day negotiation period to finalise a broader agreement, during which maritime restrictions and the US naval presence in the area would be gradually scaled back.

The shift in tone comes after President Donald Trump announced a pause in Project Freedom, the US-led naval escort mission in the Strait of Hormuz, citing  “great progress” in negotiations. The operation, launched three days ago, had struggled to restore normal shipping activity and instead coincided with a new wave of Iranian attacks.

The Pentagon says Iran has targeted US military and commercial vessels 19 times since the ceasefire. In the latest incident, a French shipping company reported its container vessel, CMA CGM San Antonio, was hit by a land-based cruise missile near UAE waters a day earlier, with injured Filipino crew members evacuated.Satellite imagery confirmed Fujairah port is nearly empty of tankers, and Iran has enforced new sovereign transit permit rules in the strait, underscoring the gap between active diplomacy and continued maritime hostilities.