The United States Iran and Oman are nearing an interim agreement that would temporarily reopen the Strait of Hormuz Axios reported citing regional sources and a US official.

Washington hopes to announce the pact on Wednesday after several weeks of talks aimed at restarting ceasefire discussions and advancing toward a nuclear deal.

This development follows President Donald Trump decision to cancel planned strikes on Iran over the weekend in favor of continued negotiations.

US Secretary of State Marco Rubio noted progress in the talks on Tuesday and expressed hope for a positive outcome.

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Trump stated that the strait would open soon or face strong action to ensure access adding that any Iranian withdrawal would prompt a firm response though he described the current exchanges as productive.

The proposed interim deal covers at least sixty days during which Iran and Oman would jointly manage the strait with inbound vessels using the northern Iranian lane and outbound traffic following the southern Omani lane.

Ships would face no tolls or fees during this period and mines would be cleared from the central lane within thirty days paving the way for two way traffic under a longer term arrangement.

US envoy Steve Witkoff engaged Iranian and Omani foreign ministers during the process while Iranian Foreign Minister Abbas Araghchi secured necessary approvals from Supreme Leader Mojtaba Khamenei and the Supreme National Security Council on Tuesday.

Qatar as a mediator expressed intent to return commercial shipping volumes to pre conflict levels and US Central Command confirmed the southern lane remains operational after assisting over one thousand vessels in recent months.

Iran has sought shared oversight of the strait with Oman and had restricted most traffic amid rising tensions that began in February.