• Plan to be agreed on Monday, says source.
• Two-stage deal envisaged, ceasefire then final agreement.
• Final deal in 15–20 days with nuclear curbs, sanctions relief.

Iran and the United States have received a Pakistan-formulated plan to end hostilities that could come into effect soon and reopen the Strait of Hormuz, a source aware of the proposals said on Monday.

A framework to end hostilities has been put together by Pakistan and exchanged with Iran and the US overnight, the source said, outlining a two-tier approach with an immediate ceasefire followed by a comprehensive agreement.

“All elements need to be agreed today,” the source said, adding the initial understanding would be structured as a memorandum of understanding finalised electronically through Pakistan, the sole communication channel in the talks.

Axios first reported on Sunday that Pakistan, along with other regional mediators, was engaged in intense diplomatic efforts to broker a potential 45-day ceasefire between Iran and the United States that could lead to a permanent end to the war.

The source told Reuters that Chief of Army Staff (COAS) and Chief of Defence Forces (CDF), Field Marshal Asim Munir, has been in contact “all night long” with US Vice President JD Vance, special envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi.

Under the proposal, a ceasefire would take effect immediately, reopening the Strait of Hormuz, with 15–20 days to finalise a broader settlement.

The deal, tentatively dubbed the “Islamabad Accord,” would include a regional framework for the strait, with final in-person talks in Islamabad.

Meanwhile, senior Iranian official told Reuters that Tehran had received Pakistan’s proposal for an immediate ceasefire and was reviewing it, adding that Tehran does not accept being pressured to accept deadlines and make a decision.

Iran won’t reopen the Strait of Hormuz in exchange for a “temporary ceasefire”, the official said, adding that Tehran views Washington as lacking the readiness for a permanent ceasefire.

Iranian officials have previously told Reuters that Tehran was seeking a permanent ceasefire with guarantees they will not be attacked again by the US and Israel. They have said Iran has received messages from mediators including Pakistan, Turkiye and Egypt.

The final agreement is expected to include Iranian commitments not to pursue nuclear weapons in exchange for sanctions relief and the release of frozen assets, the source said.

Two Pakistani sources said Iran has yet to commit despite intensified civilian and military outreach.

“Iran has not responded yet,” one source said, adding proposals backed by Pakistan, China and the United States for a temporary ceasefire have drawn no commitment so far.

There was no immediate response from Chinese officials to requests for comment.

The latest diplomatic push comes amid escalating hostilities that have raised concerns over disruption to shipping through the Strait of Hormuz, a critical artery for global oil supplies.

US President Donald Trump has in recent days publicly pressed for a rapid end to the conflict, warning of consequences if a ceasefire is not reached within a short timeframe.

The conflict has heightened volatility in energy markets, with traders closely watching any developments that could affect flows through the strait.

A report by The New York Times has revealed that Jeffrey Epstein presented himself as a White House insider while communicating with Indian businessman Anil Ambani during the early months of the Trump administration.

According to messages reviewed by U.S. authorities, Ambani sought guidance in 2017 on navigating U.S.-India relations and defense cooperation.

Epstein, despite no proven official role, claimed he could provide inside information and advice on dealing with the White House.

The exchanges suggest Epstein shared advance insights on key U.S. appointments and foreign policy decisions.

In one instance, he indicated that David Petraeus was unlikely to be appointed U.S. ambassador to India—an assessment that later proved accurate.

He also predicted that John Bolton would replace H. R. McMaster as national security adviser, which occurred months later.

Epstein further offered to connect Ambani with influential figures close to Donald Trump, including Steve Bannon and Tom Barrack.

While some of Epstein’s information appeared accurate, the report notes there is no evidence he had formal ties to the administration, raising questions about whether his access stemmed from real connections or well-placed sources.

• 45-day ceasefire proposal under active discussion.
• Massive strikes plan remains ready, sources say.
• Iran maintains hardline stance after Trump’s threat.

Pakistan, along with other regional mediators, is engaged in intense diplomatic efforts to broker a potential 45-day ceasefire between Iran and the United States that could lead to a permanent end to the war, Axios reported, citing four US, Israeli and regional sources.

However, the sources cautioned that chances of reaching even a partial agreement within the next 48 hours remain slim, describing the current push as the only opportunity to avert a major escalation that could involve large-scale strikes on Iranian civilian infrastructure and retaliatory attacks on energy and water facilities in Gulf states, according to the report.

US President Donald Trump had earlier set a 10-day deadline for Iran, which was due to expire Monday evening. However, he told the Wall Street Journal on Sunday his deadline for Iran to open the Strait of Hormuz or face attacks on critical infrastructure is Tuesday evening.

“There is a good chance, but if they don’t make a deal, I am blowing up everything over there,” he said, reiterating threats to target infrastructure vital to Iranian civilians.

The US and Israel have pounded Iran with missiles and airstrikes for more than five weeks to destroy what they said was an imminent threat from the country’s nuclear weapon development programme, ballistic missile arsenal and support for regional proxy militias.

Tehran has effectively closed the Hormuz waterway, a conduit for around a fifth of the world’s oil and natural gas supply, and attacked US military bases and other targets around the Gulf.

Two sources told Axios that operational plans for a large-scale US-Israeli bombing campaign targeting Iran’s energy facilities are ready, but stressed the extension of Trump’s deadline was aimed at giving a last chance to reach a deal.

Four sources with knowledge of the diplomatic efforts said the negotiations are taking place through Pakistani, Egyptian and Turkish mediators and also through text messages sent between Trump’s envoy Steve Witkoff and Iran’s Foreign Minister Abbas Araghchi.

Pakistan emerged as a key mediator in one of the region’s worst conflicts, which erupted after joint US-Israeli attacks on Iran on February 28.

According to a US official, Washington has presented several proposals to Tehran in recent days, but none have been accepted so far.

The sources said the mediators are discussing with the parties the terms for two-phased deal; the first phase would a potential 45-day ceasefire during which a permanent end to the war would be negotiated.

The ceasefire could be extended if more time were needed for talks, one of the sources said.

The second phase would be an agreement on ending the war, the report added.

The sources said mediators think that fully reopening the Strait of Hormuz and a solution for Iran’s highly enriched Uranium — either through its removal from the country or dilution — could only be a result of a final deal.

Mediators are also exploring confidence-building measures, including partial steps by Iran on Hormuz access and uranium, while seeking assurances from Washington that any ceasefire would not be temporary.

Iranian officials have conveyed concerns about entering a ceasefire arrangement similar to those in Gaza or Lebanon, where hostilities resumed despite formal agreements.

At the same time, mediators are working on potential US measures to address Iranian demands and build trust between the parties.

Officials involved in the talks warned that any US-Israeli strikes on Iran’s energy infrastructure could trigger a severe Iranian response targeting oil and water facilities across the Gulf region.

Mediators have stressed to Tehran that the next 48 hours represent a critical window to reach a deal and avoid widespread destruction.

Despite this, Iranian officials have maintained a hardline stance publicly, rejecting concessions. The Iranian Revolutionary Guards Corps Navy also warned that conditions in the Strait of Hormuz would “never return” to pre-war norms, particularly for the United States and Israel.

The White House declined to comment on the ongoing negotiations.