Axios, citing two regional sources and a U.S. official, reported that the United States, the Islamic Republic and Oman are nearing a temporary agreement to reopen the Strait of Hormuz, and that Washington intends to announce it on Wednesday.

Based on the report, the 60-day agreement is expected to provide for the route by which ships enter through Iran’s coastal waters and exit through Omani waters, with coordination from Tehran.

Also, no fees will be charged during this period, and the parties will cooperate on clearing sea mines and creating the conditions for the implementation of a permanent agreement.

Axios added that the agreement satisfies the Islamic Republic’s demands for greater control over traffic through the Strait and could pave the way for the resumption of a ceasefire between Tehran and Washington and nuclear talks.

The outlet also wrote that Qatar, Pakistan and Saudi Arabia were involved in the mediation process, and the White House also played an active role through contacts between Steve Witkoff, Abbas Araghchi and Badr al-Busaidi in the talks.