- A deal between the US and Iran to end the war is likely to unfold in three stages, according to reports.
- The first stage will be formally ending the war, followed by resolving the crisis in the Strait of Hormuz and launching a 30-day window for negotiations on a broader agreement, which can be extended, sources told Reuters .
- Two Pakistani sources said that, according to the memorandum, the strait would be opened immediately after the US lifts its blockade on Iranian shipping. US secretary of state Marco Rubio said that, if the outline was agreed on, it would mean "completely open straits", and "without tolls".
- Iranian news agency Tasnim said any changes in navigation through the Strait of Hormuz were conditional on implementation of other commitments by the US. It also said some Iranian funds that have been frozen globally as part of sanctions must be released in the first phase of the deal.
- One of the Pakistani sources said if the US accepted the memorandum, further talks could take place after the Muslim Eid holiday ends on Friday.
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