Iran, US receive plan to end hostilities, immediate ceasefire; sources say

Iran and the United States have received a plan to end hostilities that could come into effect on Monday and reopen the Strait of Hormuz, a source aware of the proposals said.

A framework to end hostilities has been put together by Pakistan and exchanged with Iran and the US overnight, the source said, outlining a two-tier approach with an immediate ceasefire followed by a comprehensive agreement.

"All elements need to be agreed today," the source said, adding that the initial understanding would be structured as a memorandum of understanding finalized electronically through Pakistan, the sole communication channel in the talks.

Phase one would involve a 45-day ceasefire, during which a permanent end to the war would be negotiated. Phase one could be extended if more time was needed for talks, Axios reported, citing several US and Israeli sources.

According to the sources, mediators think that only a final deal will lead to fully reopening the Strait of Hormuz and to a solution to the problem of Iran’s highly enriched uranium. 

Mediators are currently working on partial measures Iran can take to build confidence regarding the reopening of the Strait of Hormuz and its uranium stockpile, sources told Axios.

According to two of the sources, these two issues are not ones Iran will fully give up on in exchange for a 45-day ceasefire.

Mediators are also working on measures the US could take to address some of Iran's demands.

Iranian mediators have made clear that they do not want a Gaza or Lebanon situation “where there is a ceasefire on paper but where the US and Israel can attack again whenever they want to,” Axios wrote.

Mediators have urged Iranian officials not to delay any further, stressing that the next 48 hours are the last opportunity for them to reach a deal.

Sources told Axios that the chances of reaching a deal are slim, but this is the only chance to avoid a dramatic escalation in the war.