A proposed U.S.-Iran memorandum of understanding that President Donald Trump says could be signed within days would extend the current ceasefire in Lebanon for an additional 60 days, creating a window for broader negotiations between Washington and Tehran, according to diplomats and U.S. officials cited by Axios.

The draft agreement, reached after months of indirect talks mediated by Qatar and Pakistan, is expected to serve as an initial framework aimed at reducing regional tensions while opening the door to negotiations over Iran's nuclear program and sanctions relief.

Under the proposed memorandum, the ceasefire would remain in effect across multiple fronts, including Lebanon, while the United States and Iran engage in a new round of nuclear negotiations. Diplomats involved in the talks said the text also outlines a framework for addressing Iran's stockpile of enriched uranium, although any concrete steps concerning Tehran's nuclear activities would require a separate, more detailed agreement.

"The U.S. and Iran have agreed on the text of a deal," a diplomat from one of the mediating countries told Axios, while noting that final political approval is still required before it can be formally signed.

According to sources familiar with the negotiations, the draft agreement has already received approval from senior Iranian officials, although it has not yet been definitively endorsed by Iran's top leadership.

Trump said he expects a signing ceremony to take place over the weekend. However, Iran's Foreign Ministry indicated that Tehran had not yet made a final decision on whether to proceed.

The White House has previously believed a breakthrough was imminent on several occasions over the past two months, only for negotiations to collapse at the final stage. Nevertheless, mediators involved in the process expressed confidence that the current text has a stronger chance of surviving the remaining hurdles.

As preparations intensified, four U.S. Air Force C-17 transport aircraft departed for Europe on Thursday carrying equipment that could support a potential trip by Vice President JD Vance to a signing ceremony expected to be held in Geneva.

According to two diplomats from mediating countries and two U.S. officials, the tentative agreement was reached late Wednesday after hours of discussions between Qatari mediator Ali Al-Thawadi and Iranian Foreign Minister Abbas Araghchi.

Sources said Al-Thawadi remained in close contact with Trump's envoys, Steve Witkoff and Jared Kushner, speaking with them repeatedly by telephone throughout the negotiations in Tehran.

Trump's public declaration that an agreement had been finalized reportedly caught Israeli Prime Minister Benjamin Netanyahu by surprise.

A U.S. source familiar with the matter said Netanyahu had spent recent days contacting allies close to the Trump administration in an effort to obtain information about the negotiations, as details of the talks remained closely held.

Beyond the Lebanon ceasefire extension, the proposed memorandum includes a series of commitments from Iran regarding its nuclear program.

According to U.S. officials, Tehran would pledge never to acquire a nuclear weapon and would work toward resolving the longstanding dispute surrounding its enriched uranium stockpile.

One senior U.S. official said Trump had accepted the possibility that part of the solution could involve reducing the enrichment level of Iran's highly enriched uranium inside the country under the supervision of United Nations inspectors.

Officials stressed, however, that no changes to Iran's nuclear program would take effect unless a second and more comprehensive agreement is reached, a process many observers view as highly uncertain given the complexity of the issues involved.

The diplomat involved in the negotiations argued that the memorandum addresses all major nuclear concerns and meets U.S. requirements.

The agreement would also seek to restore maritime commerce through the Strait of Hormuz, one of the world's most important energy shipping routes.

Under the draft text, the strait would reopen immediately without transit fees, with shipping volumes expected to return to pre-war levels within 30 days. In exchange, the United States would lift its maritime blockade.

U.S. officials have previously indicated that Iran would initially receive temporary sanctions waivers allowing it to export oil for a 60-day period after the reopening of the strait, providing Tehran with much-needed revenue.

Additional sanctions relief would depend on Iran's compliance with the agreement and its conduct during subsequent negotiations.

"There is no fixed timeline for sanctions relief," the diplomat said. "It will be linked directly to implementation of the agreement."

One issue that remains unresolved publicly is the fate of billions of dollars in Iranian assets frozen abroad.

Iran has pushed for immediate access to at least part of those funds upon signing the agreement, while the United States has argued that any release should occur gradually and be tied to compliance benchmarks.

Some observers have raised concerns that the issue could be handled through a confidential side arrangement, although U.S. officials have denied that any secret agreement exists.

According to a U.S. official and a source from one of the mediating countries, Washington, Tehran and Doha have recently discussed a mechanism that would allow Iran to access a portion of its frozen funds held in Qatar for humanitarian purchases.

If finalized, the agreement will be known as the "Islamabad Agreement," reflecting the joint mediation efforts of Pakistan and Qatar.

"We are working with all parties to finalize the remaining details and determine a date for the signing ceremony," the diplomat said.