The governments of Iran and the United States have reported a draft peace memorandum to end a U.S. naval blockade and reopen the Strait of Hormuz [1, 2, 3].
The agreement is a critical step toward stabilizing global energy markets and serves as a confidence-building measure in broader negotiations to end the Iran-Israel war [1, 2, 3].
Under the terms of the draft, the U.S. would lift its naval blockade of Iranian waters, while Iran would allow commercial shipping to return to the strategic waterway [3]. An Iranian state TV spokesperson said, "The draft agreement would see the United States lift its naval blockade and Iran restore commercial shipping through the Strait of Hormuz" [3].
Reports indicate that commercial shipping through the Strait of Hormuz would be restored to pre-war levels within a month [1]. This timeline aims to quickly normalize the flow of oil and gas through the passage between Iran and Oman [1, 2, 3].
U.S. officials have signaled a shift toward diplomacy. "We have made some progress on a deal that could end the war," Senator Marco Rubio (R-FL) said [2].
There are conflicting reports regarding the current status of the waterway. An Iranian Foreign Ministry official, Ali Bagheri, said, "We have reopened the Strait of Hormuz, but we reserve the right to close it again if the blockade continues" [4]. However, other reports suggest the reopening remains contingent on the finalization of the draft memorandum [2].
The Strait of Hormuz remains one of the most volatile maritime chokepoints in the world. The current proposal seeks to remove immediate military friction to facilitate a larger ceasefire agreement involving regional actors [1, 2, 3].
“"We have made some progress on a deal that could end the war,"”
The potential lifting of the U.S. naval blockade in exchange for guaranteed shipping access represents a tactical pivot toward de-escalation. By focusing on the Strait of Hormuz, both nations are addressing the most immediate economic pressure point of the conflict. If successful, this agreement could lower global oil price volatility and create a diplomatic blueprint for a comprehensive ceasefire in the wider Iran-Israel war.
