The United States has circulated a draft peace agreement aimed at ending the conflict with Iran and preventing further violations of the ceasefire, according to reports from regional and international sources.

The proposal includes reopening the Strait of Hormuz to commercial shipping, lifting restrictions on Iranian ports, and allowing Iran access to up to $12 billion in frozen assets. The plan seeks to restore maritime trade through the strategic waterway to pre-war levels within 30 days.

Under the proposed framework, Iran and the United States would enter negotiations lasting up to 60 days over Tehran’s nuclear program. Discussions would focus on Iran’s stockpile of highly enriched uranium, a temporary suspension of additional enrichment activities, and oversight by the International Atomic Energy Agency (IAEA). Iran would also commit not to pursue nuclear weapons.

U.S. Vice President J.D. Vance said the two sides are approaching an agreement, although differences remain regarding uranium stockpiles and enrichment terms. He noted that discussions continue over the final language of the deal.

The current proposal has reportedly faced criticism in Israel, where officials are seeking stronger commitments from Iran on nuclear issues and broader regional security arrangements.

Meanwhile, Iran’s Revolutionary Guard stated that commercial vessels and oil tankers continue to transit the Strait of Hormuz under its supervision. Iranian leader Mojtaba Khamenei has also urged officials to focus on economic concerns and avoid internal divisions as debate over negotiations continues.

The draft agreement represents one of the most significant diplomatic efforts in recent months to reduce tensions in the region and stabilize one of the world's most important shipping routes.