What changed
Axios reports draft includes 60-day ceasefire, no tolls on the strait, Iran allowed to sell oil freely. US would lift blockade and issue sanctions waivers. Iran would commit to never pursue nukes and negotiate enrichment suspension. Oil markets expected to react sharply.
Why it matters
Axios reports draft includes 60-day ceasefire, no tolls on the strait, Iran allowed to sell oil freely. US would lift blockade and issue sanctions waivers. Iran would commit to never pursue nukes and negotiate enrichment suspension. Oil markets expected to react sharply.
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May 24, 2026 10:57 AM ET