Draft US-Iran Deal Targets Shipping Revival, Military Pullback in Gulf

As tensions in the Middle East approach a critical juncture, reports have surfaced regarding a draft memorandum of understanding between the United States and Iran aimed at de-escalating the ongoing conflict, Iranian state media reported on Wednesday.

With President Trump convening senior officials to finalise a potential agreement, the proposal offers a roadmap for restoring stability in the vital Strait of Hormuz while navigating the complexities of regional military presence.

According to Iran's state television, the preliminary document outlined a multi-layered peace process designed to wind down hostilities and address the primary economic and security concerns.

Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within 30 days.

Under this arrangement, transit would be managed by Iran in coordination with Oman, though the current draft reportedly excludes US military vessels from this specific transit framework.

In a reciprocal move, the United States has committed to withdrawing military forces from Iran's "surrounding environment," with the specifics of whether this applies to regional deployments or permanent bases left to further negotiation.

Will the US–Iran deal lift the naval blockade and restore Strait of Hormuz trade within 60 days?

The US would be expected to lift the current naval blockade, a move seen as essential to normalising commercial activity.

If a final agreement is ratified within a 60-day window, the deal would be formalised through a binding UN Security Council resolution.

The latest proposal suggests that Iran and Oman would assume joint oversight of shipping lanes and traffic management within the narrow waterway.

This chokepoint is vital to global energy security, facilitating the transit of nearly a fifth of the world's oil and liquefied natural gas (LNG) supplies.

The breakthrough comes at a time of mounting international anxiety regarding disrupted energy supplies and spiked crude prices, triggered by months of volatile conflict across the Gulf region.

The urgency of these negotiations is underscored by significant domestic and global pressures.

The closure of the Strait of Hormuz, a global energy chokepoint, has already resulted in approximately 20 per cent of global energy supplies failing to reach markets, alongside severe disruptions to fertiliser distribution, threatening global food security.

For President Trump, the deal represents a potential "victory" ahead of critical midterm elections. While he projects confidence in the negotiations, he faces mounting pressure from both political allies and critics who fear the deal may leave Iran's hardline leadership emboldened despite current economic strains.

Iranian President Masoud Pezeshkian has framed the conflict as an "economic war," accusing Washington of targeting the livelihoods of the Iranian people, a sentiment echoed by the IRGC, which maintains that while renewed direct warfare is unlikely due to perceived American weakness, they remain prepared to defend their territory.

(With inputs from ANI)