Strait of Hormuz reopening: 60-day truce talks 2026

What the latest updates say

Negotiators working on the US-Iran conflict are nearing a settlement that could extend the existing ceasefire by 60 days and restore access to the Strait of Hormuz, according to multiple reports cited in the live updates. US President Donald Trump said a broad memorandum of understanding (MoU) aimed at ending hostilities had been “largely negotiated” and would be announced “shortly.” He also wrote that, among other elements, “the Strait of Hormuz will be opened.” US Secretary of State Marco Rubio also acknowledged that “some progress” has been made and suggested “there may be news later today.”

A 60-day ceasefire extension under discussion

Mediators believe both sides are closing in on an agreement to extend the ceasefire by 60 days, the Financial Times reported in the cited update. The ceasefire is described as having begun on April 8. Separately, Axios was cited as reporting that the pact would involve a 60-day extension of the existing ceasefire, during which the strait would be reopened and Iran would be allowed to sell its oil. The updates also frame the situation as a nearly three-month standoff tied to US and Israeli attacks on Iran and the shutdown of the strait.

Hormuz reopening: phased steps and contested control

The reopening of the Strait of Hormuz is described as a core deliverable of the proposed framework. Tasnim was cited as reporting a separate 30-day period for procedures related to Hormuz and the lifting of the US naval blockade. The Financial Times report referenced in the feed said the deal would include a gradual reopening of Hormuz. At the same time, Iranian reporting introduces a governance condition: Iran has said any mechanism for reopening should be agreed between Iran, Oman, and other bordering countries.

Nuclear programme remains a central sticking point

The nuclear programme is repeatedly cited as a key sticking point alongside control of the Strait of Hormuz. Iran has set a two-month timeline for nuclear talks, according to Tasnim as quoted in the updates. A regional official familiar with Pakistan-led mediation efforts also described a potential deal that includes an official declaration of the war’s end and two-month negotiations on Iran’s nuclear program. Rubio reiterated the US position that Iran “can never have a nuclear weapon” and must turn over highly enriched uranium.

Blockade and port access: what could change

Several lines in the update point to changes around shipping and port access if a deal is finalized. One account said the Strait of Hormuz would be reopened and the US would end its blockade of Iran’s ports. Another said the US plans to lift its blockade as part of the agreement. But the reporting also notes unresolved differences over sanctions, nuclear issues, and security in the strait, with “major gaps” still remaining, according to Iran’s spokesperson Baghaei as quoted by IRIB.

Sanctions, oil sales, and frozen assets: conflicting claims

Iran-linked reporting cited in the feed indicates possible temporary sanctions relief. Fars was cited as saying sanctions on oil, gas, and other petrochemicals would be temporarily lifted so Iran can sell its products, and that passage through the strait would return to “pre-war levels” under Iranian management. Other updates said Iranian officials claimed the deal would release $15 billion in frozen Iranian assets. However, a Trump administration official told reporters the US does not plan to unfreeze any Iranian assets as part of the current agreement being negotiated, highlighting a clear conflict in reported terms.

Mediation led by Pakistan and regional approvals

Islamabad is described as having led negotiations that enabled a pause in conflict and talks on reopening Hormuz, which has been effectively shut to shipping since late February. The updates also mention additional regional diplomacy, including Trump’s calls with Israel and other allies. Trump indicated the agreement would be subject to approval by “a number of other countries in the Middle East,” not only the US and Iran. Iran’s IRNA, quoting Baghaei, said positions have moved closer in recent days.

Why the Strait of Hormuz matters for energy markets and India

The strait is described as a strategic waterway through which a significant share of the world’s oil shipments passes, making any disruption a global energy risk. The updates note that tanker flows through the strait are a major focus of the proposed deal, alongside reopening without tolls in one Iranian account. For India, the relevance is straightforward: crude supply routes and freight costs are sensitive to shipping access through chokepoints like Hormuz. The feed does not provide oil price moves, freight rate data, or India-specific import numbers, so the market implications here are limited to the direct linkage between shipping access and energy logistics risk.

Market impact: what investors can and cannot conclude right now

From the information provided, the most concrete market variable is the status of Hormuz access and the blockade, because it directly affects the ability to move oil cargoes. A 60-day ceasefire extension, if agreed, would define a near-term window in which shipping could normalize while nuclear talks continue over two months. But the updates stress that key details are “murky” and that disagreements remain over sanctions relief, nuclear conditions, and security arrangements for the strait. Investors tracking Indian oil marketing companies, refineries, aviation, and logistics typically watch these inputs closely, but no confirmed financial impact figures are included in the source text.

Key facts from the reported framework

What to watch next

The updates repeatedly signal that final details are still being negotiated and an announcement could come soon. Watch for the publication of any formal text or jointly acknowledged terms, particularly around (1) the mechanics and timeline for reopening Hormuz, (2) who controls security and management in the strait, (3) the scope and duration of any sanctions relief, and (4) verification steps tied to enriched uranium. Also relevant will be whether the reported requirement for approvals by other Middle East countries materializes into a defined process.

Conclusion

The reported framework centers on a 60-day ceasefire extension and reopening the Strait of Hormuz, while pushing the most sensitive nuclear issues into a two-month negotiation track. Trump and Rubio have both indicated progress, but Iranian officials also emphasize remaining gaps. The next confirmed milestone will be any official announcement of the MoU and a documented timeline for reopening shipping lanes and adjusting the blockade.