The White House believes it may be nearing an initial agreement with Iran on a memorandum of understanding aimed at ending hostilities and opening the way for broader nuclear negotiations, according to a report by Axios on Wednesday.

Framework Under Discussion

Citing two U.S. officials and two additional sources familiar with the matter, Axios reported that discussions are focused on a one-page framework document intended to establish the basis for more detailed talks.

The report said Washington expects responses from Tehran on several key issues within the next 48 hours, though it stressed that no final agreement has yet been reached.

According to Axios, officials believe the current discussions represent the closest the two sides have come to an agreement since the conflict began.

Reported Terms of the Proposal

The proposed framework reportedly includes:

• An Iranian commitment to pause uranium enrichment activities
• Potential U.S. sanctions relief
• The release of frozen Iranian assets
• Reciprocal easing of restrictions affecting transit through the Strait of Hormuz

No Official Confirmation Yet

Reuters said it could not independently verify the Axios report.

The United States Department of State and the White House did not immediately respond to requests for comment.

The reported talks come amid continued international efforts to reduce tensions in the Gulf and stabilize global energy markets affected by disruptions to shipping routes and concerns over regional escalation.