US-Iran war highlights: Trump Situation Room meeting ends; White House says deal must meet ‘red lines’

US-Iran war LIVE: Trump, issued a sharp warning to Oman while talking about ongoing negotiations with Iran over reopening the Strait of Hormuz, saying no country would be allowed to control the strategic waterway.

US-Iran news highlights: After months of back-and-forth efforts and proposals, a tentative ceasefire deal has been reached between the United States and Iran, US officials said on Thursday, though it is pending President Donald Trump’s approval, Axios reported. The Memorandum of Understanding aims to extend the ceasefire for 60 days, reopen the Strait of Hormuz, and begin negotiations on Iran's nuclear program.

This development comes after both sides accused each other of violating the truce that began in April, three months after the Middle East conflict was triggered by US-Israeli strikes on Iran.

What’s in the deal?

Under the proposal, both sides will sign the memorandum, allowing a 60 day ceasefire that could be extended if needed on a mutual basis. It further states that shipping through Strait of Hormuz would be unrestricted, with no tolls and harassment. Iran would also agree to remove all mines from the Strait within 30 days, as reported by Axios.

Another key point included in the proposal is that the US would lift its blockade from Hormuz if commercial traffic resumes. The US would also issue some sanctions waivers to allow Iran to sell oil freely.

The MoU will include a commitment from Iran to not pursue a nuclear weapon, Axios reported citing US officials. It will also specify that, during the 60-day negotiation period, the initial focus will be on disposing of Iran’s highly enriched uranium and addressing its uranium enrichment activities.

According to the official, Iran pushed for the immediate release of frozen funds and permanent sanctions relief, but the US insisted those measures would only come after Iran made concrete concessions. The deal would also include a plan to help Iran start getting goods and humanitarian aid.

The proposal also states that the war between Israel and Hezbollah in Lebanon would end. The two leaders, Trump and Netanyahu have had a heated exchange about this clause, Axios reported.

A deal getting close?

US officials told Axios that a deal could be announced by Sunday, though it has not been finalised and could fall apart. Trump has been briefed about the proposal but has not signed it yet. A US official provided an outline of the deal, much of it was verified. These details have not been confirmed by Iran, though it says a deal is getting close.

"The president relayed to the mediators that he wants a couple of days to think about it," a US official told Axios.

US and Iran strikes

The US and Iran exchanged strikes on Thursday in their most serious confrontation since the April ceasefire, raising fears over the stability of ongoing peace efforts and the reopening of the crucial Strait of Hormuz.

In fresh escalation in the war between the United States and Iran, the American forces on Wednesday struck Iran for the second time in a week on Wednesday and claimed that the strike was done in self defence after they observed some aggressive activity from the forces of the other side.