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Axios reports that the White House believes negotiators are nearing a one-page memorandum to end over two months of U.S.-Iran fighting that began with Iran-related operations around Feb. 28. The document reportedly would lay out a framework for more detailed nuclear talks: the U.S. is pressing for Iran to agree not to develop a nuclear weapon,accept a nuclear enrichment moratorium,and allow stronger international inspections. In exchange, the U.S.would gradually lift sanctions and release frozen Iranian funds. <\/p>\n

Markets reacted quickly to the news, with oil prices falling sharply<\/a>, according to other outlets cited in the article. U.S. Secretary of State Marco Rubio said nothing is finalized, but diplomacy is focused on clarifying what topics both sides will negotiate and what concessions are on the table. He also referenced a U.S. pause in an operation escorting commercial shipping through the Strait of Hormuz, noting that what happens next depends on negotiation progress. <\/p>\n