Trump and Iran Close to a Deal, but Analysts Warn
U.S. Treasury Secretary Scott Bessent announces a possible 30- to 60-day ceasefire, while sources report a framework agreement for joint control of the strategic waterway.
U.S. Treasury Secretary Scott Bessent announces a possible 30- to 60-day ceasefire, while sources report a framework agreement for joint control of the strategic waterway.
U.S. Treasury Secretary Scott Bessent said on Thursday that the United States and Iran could sign a new peace agreement very soon, possibly as early as August 7 or 8, 2026. Bessent predicted a 30- to 60-day ceasefire, the reopening of the Strait of Hormuz, and a drop in energy prices.
"Well, I think we will see a ceasefire agreement for 30-60 days very soon, maybe today or tomorrow, the strait will be open, energy prices should fall," Bessent said, according to a report from the Telegram channel RVvoenkor.
President Donald Trump has signaled progress in negotiations since the beginning of the week, when he backed down from a major attack on Iran's energy infrastructure. On Wednesday, he said: "We're doing very well. I'm involved in the negotiations. I think we're doing well. It could be soon." He added that the U.S. would maintain a blockade of Iranian ports in the meantime.
An unnamed U.S. official confirmed on Thursday that progress has been made in talks between Iran and Oman aimed at fully reopening the Strait of Hormuz. "We expect an agreement soon," the official said.
According to a report from the MS Now portal, a framework agreement has been reached under which Iran and Oman would jointly control the strategic waterway through which about 20 percent of global oil and liquefied natural gas supplies pass. The agreement would establish a new entry route under Iranian control and an exit route under Omani control, with the U.S. and the United Nations' International Maritime Organization (IMO) participating in the formal announcement.
However, sources differ on the issue of transit fees. MS Now states that ships would not pay fees, while Iranian state media Press TV reported that a parliamentary committee is considering a draft law that would introduce transit fees through the strait. At the same time, Washington reportedly supports the agreement only if it does not include fees and has no "obstacles, meaning no approvals or permits," a U.S. official told MS Now.
Lawmaker Alireza Salimi confirmed to Press TV that a preliminary draft law is being considered that would ban passage for American, Israeli, and other "hostile" vessels. "It would also ban the entry and exit of military or warships, as well as vessels involved in espionage, spying, or actions deemed contrary to Iran's national security," Salimi said. The draft includes fines of up to 20 percent of a ship's cargo value for violating the proposed restrictions.
According to an Axios report on Thursday, Iran is awaiting approval from the Supreme National Security Council for an interim agreement with the U.S. and Oman, and that approval is expected soon. Although all reports point to an imminent deal, it is clear that Washington and Tehran still disagree on how to manage the waterway, which led to a serious conflict between the U.S. and Iran last month following the June memorandum of understanding.
SouthFront analysts warn that the agreement will likely be temporary, that traffic through the strait will not reach pre-war levels, and that tensions will remain high.
