U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear program, but US President Trump has yet to give his final approval.

Axar.az reports, citing Axios, the U.S. officials said the 60-day MOU will state that shipping through the Strait of Hormuz will be "unrestricted." A U.S. official said this means no tolls and no harassment and that Iran will have to remove all mines from the strait within 30 days.

The signing of the MOU would be the most significant diplomatic breakthrough since the war started, but a final agreement that tackles Trump's nuclear demands would still require further intensive negotiations.