A potential US-Iran letter of intent aims to halt conflict and initiate talks on nuclear programs and Strait of Hormuz access.
The US and Iran are finalizing a letter of intent to formally end hostilities, according to a US source. The agreement would trigger a 30-day negotiation period addressing Iran’s nuclear program and the reopening of the Strait of Hormuz, a critical global oil chokepoint.
The proposed deal follows months of indirect talks mediated by third parties. Prior attempts to de-escalate tensions have stalled over sanctions relief and nuclear compliance. No formal agreements have been reached in recent years, though backchannel discussions have persisted.
Markets may react to reduced geopolitical risk in the Middle East, particularly in oil and defense sectors.