The United States and Iran are closing in on an agreement on a one-page memorandum to end the war in the Gulf, a source from mediator Pakistan and another source briefed on the ​mediation said.

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.

The US is expecting Iranian responses on several key points on a one-page memorandum to end the war within the next 48 hours, according to a report by US media outlet Axios.

The US is expecting Iranian responses on several key points on a one-page memorandum to end the war within the next 48 hours, according to a report by US media outlet Axios.

The US and Iran are closing in on a one-page memo to end their war, sources involved in the peace efforts have said.