Charlie NashMay 6th, 2026, 7:21 am

President Donald Trump’s White House reportedly believes it is close to securing a one-page agreement with Iran that would end the current conflict and open the Strait of Hormuz, according to a new report.

Two unnamed Trump administration officials reportedly told Axios Global Affairs Correspondent Barak Ravid on Wednesday that the White House believed it was “getting close to an agreement with Iran on the one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.”

“Nothing has been agreed yet, but the sources said this was the closest the parties had been to an agreement since the war began,” reported Ravid, who claimed that the deal would involve “the U.S. agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz.”

President Trump announced on Tuesday that he would “pause” his military operation in the Strait of Hormuz, just one day after it began, after U.S. military ships and commercial vessels were attacked for attempting to pass through the strait despite Iran’s blockade.

“Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran,” wrote Trump in a statement, “we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed.”

This is a developing story and will be updated.

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