Washington DC [US], May 7 (ANI): Iran is expected to convey its response to the United States' proposal aimed at ending the ongoing crisis in West Asia and to achieve a complete solution to the issue through mediators on Thursday, according to a regional source cited by CNN.

According to CNN, the development comes as Tehran continues to review the US-backed proposal, with sources indicating that both sides are moving closer toward a possible agreement to bring an end to the crisis.

This comes after negotiations between Washington and Tehran are reportedly advancing towards a preliminary accord aimed at halting the current crisis and establishing a framework for expansive nuclear talks.

According to an Axios report, which cited several American officials and sources acquainted with the negotiations, the progress is being viewed as the most significant development since the onset of the conflict, though a definitive resolution has not yet been secured.

The reported framework consists of a 'one-page, 14-point memorandum of understanding' designed to trigger an immediate ceasefire and launch a '30-day negotiation window' to hammer out a broader settlement.

Under these terms, Iran would reportedly agree to a short-term pause in nuclear enrichment. In exchange, the United States would initiate the removal of sanctions and the unfreezing of billions of dollars in Iranian assets. Furthermore, both nations would work to reduce tensions and ease transit constraints within the Strait of Hormuz.

The report notes that many of the stipulations are 'conditional on the outcome of further negotiations,' suggesting that the path forward remains fraught with the risk of 'renewed conflict or a prolonged period of uncertainty.'

American officials indicated to Axios that President Donald Trump's recent choice to de-escalate military activities in the Strait of Hormuz was prompted by these diplomatic inroads.

The diplomacy is being spearheaded by US envoys Steve Witkoff and Jared Kushner, who are reportedly communicating with Tehran both through direct channels and third-party intermediaries.

If formalised, the memorandum would officially 'declare an end to the war' and shift the venue for technical discussions to either Islamabad or Geneva. (ANI)