Multiple outlets report that Iran and the United States are nearing an agreement to end the war. According to Axios, the two countries are close to agreeing on a “one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.” The agreement could be reached within the next 48 hours. Fox News chief foreign correspondent Trey Yingst has more: Reports indicate the United States and Iran are close to reaching a memorandum of understanding that would end the war. pic.twitter.com/s3uyp1Tl5h — Trey Yingst (@TreyYingst) May 6, 2026 Axios explained further: The U.S. expects Iranian responses on several key points in the next 48 hours. Nothing has been agreed yet, but the sources said this was the closest the parties had been to an agreement since the war began. Among other provisions, the deal would involve Iran committing to a moratorium on nuclear enrichment, the U.S. agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz. Many of the terms laid out in the memo would be contingent on a final agreement being reached, leaving the possibility of renewed war or an extended limbo in which the hot war has stopped but nothing is truly resolved. The White House believes the Iranian leadership is divided and it may be hard to forge consensus across the different factions. Some U.S. officials remain skeptical that even an initial deal will be reached. U.S. officials have expressed optimism about a deal at several points during previous rounds of negotiations and during the current war, but have yet to reach one. But the two U.S. officials said President Trump’s decision to back off his newly announced operation in the Strait of Hormuz and avoid a collapse of the fragile ceasefire was based on progress in the talks. “Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran. If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” President Trump said on Wednesday. Fox News White House correspondent Peter Doocy weighed in on a possible link between Iran’s foreign minister visiting China and the country seeming “more compliant.” “The Chinese are very cognizant of that. They don’t want to upset President Trump before this big state visit. So I think these things are all connected,” Doocy said. Watch below: NEW: @pdoocy weighs in on the possible link between Iran’s foreign minister visiting China and the country seemingly becoming "more compliant": "The Chinese are very cognizant of that. They don't want to upset President Trump before this big state visit. So I think these things… pic.twitter.com/mkMEj4NPCT — FOX & Friends (@foxandfriends) May 6, 2026 More from The Jerusalem Post: Later, The Jerusalem Post learned that Prime Minister Benjamin Netanyahu held consultations and is in contact with senior Israeli government officials regarding developments in the negotiations. Israeli officials said they that they were unsurprised by the developments. Key points include both countries lifting their respective blockades on the Strait of Hormuz, according to Axios. The lifting of the blockades would come in exchange for a US removal of sanctions and an Iranian commitment to a 15-year moratorium on uranium enrichment. Iran would additionally agree to transfer its stockpile of highly enriched uranium outside of its borders, potentially to the US. The document is the closest the two countries have come to an agreement since the war began on February 28, Axios reported, emphasizing that no agreement has been finalized yet.