New Delhi, May 28 -- The US ​and Iran ‌have reached an ​agreement on ​a 60-day memorandum of ​understanding to extend ​the ceasefire and launch negotiations ​on Iran's nuclear program, ‌but President Donald Trump still needs ​to ​give final approval.

According to Axios, US officials said terms of the deal were mostly agreed to as of Tuesday, but both sides still needed approval from senior leadership.

US officials told the outlet that the Iranians later came back and said they had the necessary approvals and were prepared to sign.

As part of the 60-day MOU, shipping through the Strait of Hormuz will be "unrestricted," and there will be no tolls and no harassment of ships passi...