The United States and Iran have reportedly reached an agreement to extend the existing ceasefire and allow shipping through the Strait of Hormuz, while lifting certain US sanctions, though the deal is not yet finalised.US President Donald Trump indicated he would soon make a decision after reviewing a proposal in the White House Situation Room.The agreement would extend a truce from early April for 60 days, giving negotiators time to pursue a permanent resolution.

Despite progress, key issues remain unresolved, including Iran's nuclear ambitions, Israel's conflict with Hezbollah in Lebanon, and Tehran's demand for sanctions relief and access to frozen assets.

The Strait of Hormuz remains a major point of contention due to Iran's prior closure and the placement of sea mines, while the US continues to enforce a blockade affecting Iranian exports.Nuclear negotiations focus on uranium enrichment, stockpiles, advanced centrifuges, and inspections.Iran seeks to protect its right to conventional weapons and wants relief from sanctions alongside potential financial reparations.The situation in Lebanon is also central, as Israel opposes any agreement that could limit its military options there.While both sides have expressed that a deal is close, final approval is pending, and the complex issues are likely to require weeks of further talks.This development represents a cautious step towards ending hostilities and stabilising energy markets.