Reuters, citing sources, reported on the 6th (local time) that the United States and Iran received a mediation proposal containing an immediate cease-fire and an end to the war from Pakistan, the mediator, and entered last-minute negotiations. Some say the Strait of Hormuz could be reopened as early as within days if a cease-fire takes effect, but the prospects for a deal remain uncertain as the two sides show differences over key issues.

U.S. President Donald Trump. /Courtesy of Reuters

With less than 48 hours left on the deadline set by U.S. President Donald Trump for talks with Iran, some foreign media reported that the United States and Iran entered negotiations that day. The two sides are said to be negotiating a phased agreement centered on a "45-day cease-fire" for now.

Axios, a U.S. online outlet, reported on the 5th (local time) that the United States and Iran are conducting indirect talks through mediators such as Pakistan and Egypt. The core of the proposal is a "two-step approach." In step one, they would halt hostilities for 45 days; in step two, they would move on to comprehensive talks to end the war. If necessary, an extension of the cease-fire period is also being discussed.

The biggest sticking points are passage through the Strait of Hormuz and how to handle Iran's highly enriched uranium. Iran views both issues as strategic bargaining chips and is holding the line that it cannot concede them as conditions for a short-term cease-fire. It says they must be addressed in final talks to end the war.

Iran is reportedly demanding clearer security guarantees, citing the fact that Israeli attacks continued even after cease-fire agreements in Gaza and Lebanon in the past. It says it is hard to agree without safeguards that limit a resumption of military action after a cease-fire. In response, mediators are both pressing Iran to make some concessions on reopening the strait and on nuclear material, and pushing the United States to put in place safeguards that limit military action after a cease-fire.

Still, most analyses say it is unlikely the two sides will settle key issues and reach a deal within the deadline set by President Trump.

The United States is poised to respond toughly if talks collapse. The United States and Israel are already known to have drawn up plans for large-scale airstrikes targeting Iranian energy facilities and more. Mediators worry that if Iran retaliates, the region's energy and water resources infrastructure could be hit. Some also warn that if this happens, armed clashes could spread across the Middle East.

Mediators are said to be stressing to Iran that there is "no more time to waste" and that the "remaining 48 hours are the last chance to prevent large-scale damage."

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