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US and Iran Set to Sign 60-Day Ceasefire Agreement, Strait of Hormuz to Reopen on May 24

GateNews

2026-05-24 03:32:25

According to AXIOS, on May 24, the United States and Iran are set to sign an agreement involving a 60-day ceasefire extension, during which the Strait of Hormuz will reopen and Iran will be permitted to freely sell oil. The U.S. will lift its blockade of Iranian ports and issue sanctions waivers to facilitate Iran's oil sales. The draft memorandum of understanding includes Iran's commitment not to pursue nuclear weapons and willingness to make concessions on uranium enrichment restrictions.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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