Published: 12:19 AM, 08 May 2026
US, Iran explore deal to end fighting
People chant during a rally in Tehran, Iran, May 6, 2026. -Reuters
The United States and Iran are edging toward a temporary agreement to halt their war, sources and officials said on Thursday, with Tehran reviewing a proposal that would stop the fighting but leave the most contentious issues unresolved. The emerging plan centres on a short-term memorandum rather than a comprehensive peace deal, underscoring deep divisions between the two sides and signalling that it would be an interim step. Hopes that even a partial deal could lead to the reopening of the Strait of Hormuz have already moved markets, with global stocks approaching record highs on Thursday and oil prices nursing steep losses on bets that supply disruptions could ease.
Tehran and Washington have scaled back ambitions for a sweeping settlement as differences persist, particularly over Iran's nuclear programme - including the fate of its highly enriched uranium stockpiles and how long Tehran would halt nuclear work. Instead, they are working toward a temporary arrangement set out in a one-page memo aimed at preventing a return to conflict and stabilising shipping through the strait, the sources and officials said. "Our priority is that they announce a permanent end to war and the rest of the issues could be thrashed out once they get back to direct talks," a senior Pakistani official involved in mediation between the two sides told Reuters.
The proposed framework would unfold in three stages: formally ending the war, resolving the crisis in the Strait of Hormuz and launching a 30-day window for negotiations on a broader agreement, according to the sources and officials.
Tehran said Foreign Minister Abbas Araqchi held a phone call on Thursday with Ishaq Dar, his counterpart in Pakistan, which has taken a leading role in mediation efforts.
"We remain optimistic," Pakistan's foreign ministry spokesperson Tahir Andrabi told a briefing in Islamabad when asked how quickly a deal could come.
"A simple answer would be that we expect an agreement sooner rather than later."
US President Donald Trump - who has repeatedly played up the prospect of a breakthrough since the war began on February 28 with US-Israeli strikes on Iran - has also struck an optimistic tone.
"They want to make a deal... it's very possible," he told reporters at the White House on Wednesday, adding later that "it'll be over quickly."
The proposal would formally end the conflict in which full-scale warfare was paused by a ceasefire announced on Apr 7. But it leaves unresolved key US demands that Iran suspend its nuclear work and reopen the Strait of Hormuz, the sources said.
Israel, which has also been fighting Iran-backed Hezbollah in Lebanon, said on Thursday it had killed a Hezbollah commander in an airstrike on Beirut a day earlier, the first Israeli attack on the Lebanese capital since a ceasefire there was agreed last month.
Hezbollah triggered its latest conflict with Israel by opening fire in support of Iran on March 2. A halt to Israeli strikes in Lebanon is another key Iranian demand in Tehran's negotiations with Washington.
Iranian officials signalled scepticism over the US proposal to end the wider war. A foreign ministry spokesperson said Tehran would respond in due course, while lawmaker Ebrahim Rezaei described the proposal as "more of an American wish list than a reality."
Iran's parliament speaker Mohammad Baqer Qalibaf appeared to mock reports that indicated the two sides were close, writing on social media that "Operation Trust Me Bro failed" and portraying the talks as US spin after its failure to reopen the strait.
