Pakistan, May 29 -- US and Iranian negotiators have reportedly agreed on a proposed memorandum of understanding aimed at extending the current ceasefire for 60 days and reopening talks on Iran's nuclear programme. However, Iran quickly denied that any final agreement had been reached, while US President Donald Trump has yet to approve the reported proposal. The development has nevertheless raised expectations of a possible diplomatic breakthrough after weeks of heightened regional tension.

The proposed agreement reportedly includes guarantees for unrestricted shipping through the Strait of Hormuz, a key global oil route that has remained under intense international focus. Under the reported terms, Iran would remove all naval mines from t...