WASHINGTON, MAY 6: The United States and Iran are closing in on a one-page memo to end their war, a Pakistani source involved in the peace efforts told Reuters on Wednesday, confirming an Axios report citing two US officials.

“We will close this very soon. We are getting close,” the source said, with Pakistan’s Foreign Minister adding that the country is working to ensure the agreement would lead to a “permanent end” to the conflict.

According to Axios, the US expects a response from Iran within 48 hours regarding the key points of a one-page, 14-point memorandum of understanding. An Iranian Foreign Ministry spokesperson told CNBC later on Wednesday that the proposal was being “evaluated.”

The one-page document would reportedly require an end to hostilities and the start of a 30-day negotiation period.

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.

Agreement contingent on future negotiations
The report also noted that several key terms in the potential agreement remain contingent on a future final comprehensive agreement.

Negotiations on the matter between US and Iranian officials are currently being conducted both directly and indirectly, with Steve Whitkoff and Jared Kushner representing the American team.

Axios cited a US official saying that further negotiations may take place in either Islamabad, Pakistan, or Geneva, Switzerland.

US Secretary of State Marco Rubio said on Tuesday that the negotiations with Iran are “highly complex and technical.”

“We have to have a diplomatic solution that is very clear on the topics they are willing to negotiate on and the extent of the concessions they are willing to make at the front end in order to make it worthwhile,” said Rubio, adding that some of Iran’s top leaders are “insane.”

Iran yet to give response to latest offer
Axios also reported that an Iranian official called the proposal “more of a wishlist than a reality,” while the semi-official Tasnim news agency reported on Wednesday that Iran had yet to send its response to the Pakistani mediators.

According to Tasnim, the text contained ” unacceptable clauses,” and was described as propaganda “aimed at justifying Trump’s retreat from his recent hostile action.”

WASHINGTON, MAY 6: US President Donald Trump said on Wednesday that if Iran honors what has been agreed to, the US-Israeli war on Iran could end and the Strait of Hormuz reopen.

“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.”

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“If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” Trump said in post on Truth Social.

Iran has not yet responded to the latest US proposal aimed at ending the more than two-month war, Iran’s state-linked Tasnim news agency said on Wednesday, citing an unnamed source who added that the draft contained some unacceptable provisions.

“Using the language of threat against Iran is ineffective and could worsen the situation for the United States,” the source said.

Earlier on Wednesday, the Iran’s Islamic Revolutionary Guard Corps’ (IRGC) Navy said the safe transit through the Strait of Hormuz will be ensured with US threats coming to an end and new procedures in place, in Iran’s first reaction to the US pausing operations to help stranded ships pass through the strait.

The IRGC’s statement did not specify what the new procedures entailed and thanked owners and captains of ships for respecting Iranian regulations when moving through the waterway.

WASHINGTON, MAY 6: The White House believes it is getting close to an agreement with Iran on a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations, Axios reported on Wednesday, citing two US officials and two other sources briefed on the issue.

The US expects Iranian responses on several key points in the next 48 hours, according to the report which cautioned that nothing has been agreed yet but said this was the closest the parties had been to an agreement since the war began.

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Among other provisions, the deal would involve Iran committing to a moratorium on nuclear enrichment, the US agreeing to lift its sanctions and release billions in frozen Iranian funds, and both sides lifting restrictions around transit through the Strait of Hormuz, Axios said.

The one-page, 14-point memorandum of understanding is being negotiated between US envoys Steve Witkoff and Jared Kushner and several Iranian officials, both directly and through mediators, the report said.

In its current form, the memorandum would declare an end to the war in the region and the start of a 30-day period of negotiations on a detailed agreement to open the strait, limit Iran’s nuclear program and lift US sanctions, Axios added.

Iran’s restrictions on shipping through the strait and the US naval blockade would be gradually lifted during that 30-day period, Axios said, citing one US official who added that if the negotiations collapse, US forces would be able to restore the blockade or resume military action.

A Pakistani source involved in the peace efforts told Reuters on Wednesday, that the US and Iran are closing in on a one-page memo to end their war, confirming an Axios report on the same.

“We will close this very soon. We are getting close,” the source said.

Iran said earlier on Wednesday it would accept a peace deal only if it was “fair,” after US President Donald Trump paused a three-day-old naval mission tasked with reopening the Strait of Hormuz that had shaken the war’s month-old ceasefire.

The US State Department and White House did not immediately respond to a request for comment.

US stock index futures extended gains following the Axios report.

RIYADH, MAY 6: Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan held a phone call with his Iranian counterpart Abbas Araghchi on Wednesday.

“During the call, he discussed the latest regional developments and efforts made to maintain the security and stability of the region,” the Saudi Foreign Ministry said in a statement.

The Kingdom has on several occasions called for resolving the regional issue through diplomacy and has showed its support for Pakistan which is mediating between the US and Iran.

On Wednesday, Pakistani Prime Minister Shehbaz Sharif said that US President Donald Trump’s response to pause “Project Freedom” in the Strait of Hormuz came after a request made by Pakistan and other countries, particularly Saudi Arabia.

Israel and the US began launching strikes on Iran on February 28 which in turn launched attacks on Israel and US bases in the region in addition to civilian infrastructure in neighboring countries and blocked the Strait of Hormuz.

A ceasefire took effect on April 8 but remains highly unstable.

According to the IDF, two explosive drones detonated near the soldiers, leading to one soldier being lightly wounded and another being moderately wounded.

JERUSALEM, MAY 6: Two IDF soldiers were wounded on Wednesday when Hezbollah terrorists launched explosive drones and rockets towards troops operating in southern Lebanon.

According to the IDF, two explosive drones detonated near the soldiers, leading to one soldier being lightly wounded and another being moderately wounded.

The soldiers were evacuated to receive medical treatment, and their families were notified.

In a separate incident, the IDF announced that it had intercepted a hostile aircraft before it could cross into Israeli territory.

Also on Wednesday, the IDF Arabic Spokesperson ordered the evacuation of several towns and villages in southern Lebanon in an X/Twitter post.

IDF kills Hezbollah terrorists, strikes 25 targets over past day
The IDF killed several Hezbollah terrorists and struck multiple structures in southern Lebanon on May 5, 2026. (credit: IDF Spokesperson’s Unit)
The IDF killed several Hezbollah terrorists and struck multiple structures in southern Lebanon on Tuesday and approximately 25 Hezbollah targets over the past day, the military announced on Wednesday.

The targets included a weapons storage facility, structures used for military purposes, and additional terrorist infrastructure.