US, Iran reach ceasefire extension outline; Trump approval pending

The United States and Iran have reached an outline agreement on a 60-day memorandum of understanding to extend their fragile ceasefire and open nuclear negotiations, though the deal still requires President Donald Trump's final approval, Axios reported Wednesday.

The agreement, if approved, would represent the most significant diplomatic breakthrough in a conflict now three months old that has killed thousands and kept the Strait of Hormuz closed to international shipping.

The outline deal came despite continued military exchanges between the two sides. Iran targeted a U.S. air base in Kuwait with drones and a ballistic missile, a strike Kuwait's forces intercepted, according to Reuters. The U.S. responded by shooting down five Iranian attack drones and striking a control station in the Iranian port city of Bandar Abbas.

A U.S. official told Reuters the American strikes were "measured, purely defensive and intended to maintain the ceasefire."

Trump expressed skepticism about the talks Wednesday, and Washington has ruled out any discussion of easing sanctions — a central Iranian demand. Treasury Secretary Scott Bessent warned on X that "Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved — directly or indirectly — in facilitating tolls for the Strait and any willing partners will be penalized."

Trump echoed that warning, directing blunt remarks at Oman, which has floated levying tolls on Hormuz traffic. "It's international waters, and Oman will behave just like everybody else or we'll have to blow them up. They understand that, they'll be fine," Trump said Wednesday.

Pakistan has offered to mediate between Washington and Tehran. Pakistani Foreign Minister Ishaq Dar is scheduled to meet Secretary of State Marco Rubio on Friday, according to Tasnim news agency and Reuters. Separately, Israel continued strikes on Iran-backed Hezbollah positions in southern Lebanon and Beirut during the period.

The outline agreement arrives as the three-month conflict shows no clear end, with thousands dead and the Strait of Hormuz still shuttered — and with Trump yet to signal he will sign off on the deal.