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 talks, US media reported on Wednesday.

The United States expects Iranian responses on several key points in the next 48 hours, Axios reported, citing two US officials and two other sources briefed on the issue.

The report cautioned that nothing has been agreed yet, but 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 US agreeing to lift its sanctions and release billions of dollars 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.

"The Axios text is more of an American wish list than a reality," Ebrahim Rezaei, spokesman for Iranian Parliament's foreign policy and national security committee, said on X.

Earlier, US President Donald Trump said on social media that "Project Freedom", which refers to the movement of ships through the Strait of Hormuz, would be paused for a short period to see whether an agreement can be finalized and signed.

It was based on the "request" of Pakistan and other countries, "the tremendous military success" the US had during the campaign against Iran, and the fact that "great progress has been made toward a complete and final agreement with the representatives of Iran", he said.

Pakistani Prime Minister Shehbaz Sharif expressed gratitude on Wednesday to Trump's timely announcement regarding the pause in Project Freedom.

"Pakistan remains firmly committed to supporting all efforts that promote restraint and a peaceful resolution of conflicts through dialogue and diplomacy," he said on X.

"We are very hopeful that the current momentum will lead to a lasting agreement that secures durable peace and stability for the region and beyond."

Sanctions threat

Meanwhile, The Associated Press reported on Tuesday that a United Nations resolution proposed by the US and Gulf countries threatens Iran with sanctions if Tehran does not halt its attacks in the Strait of Hormuz.

The resolution also urges Iran to support UN efforts to establish a humanitarian corridor in the strait for the delivery of vital aid, fertilizer and other goods, and to stop imposing "illegal tolls" and allow freedom of navigation by disclosing the mines.

The Gulf countries — the United Arab Emirates, Bahrain, Saudi Arabia, Kuwait and Qatar — took part in preparing the draft, the AP said.

Reuters contributed to this story.

Contact the writers at jan@chinadailyapac.com