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The draft would trade free passage through the Strait of Hormuz for an easing of the US blockade of Iranian ports, but the two sides have yet to agree on the order in which those steps would be taken.
Mediators trying to end the US-Iran war are renewing a push for a settlement, with negotiators due to hand Iran an updated draft of a potential interim agreement on Tuesday, days after President Donald Trump rejected an Iranian request to reopen the Strait of Hormuz and restart talks to end the war.
Under the terms being discussed, Iran would allow free movement of traffic through the Strait of Hormuz, and the United States would ease its blockade of Iranian ports in exchange. Mediators hope that arrangement could restart negotiations on a final settlement to end the war.
The updated text was due to reach Iran after a day of exchanges between US and Iranian officials, two people briefed on the talks said. One of those officials said progress had been made, but the two sides were still negotiating the sequencing of the agreement's next steps.