The White House reportedly believes the United States and Iran are close to agreeing to a one-page, 14-point memorandum of understanding that would permanently end the war, after U.S. President Donald Trump suspended the Project Freedom guiding mission in the Strait of Hormuz, citing progress in negotiations, Axios reported on May 6. Iran's Islamic Revolutionary Guard Corps-linked Tasnim News Agency, citing an unnamed Iranian source, said Iran has not responded to the U.S. proposal and that some of the stipulations are unacceptable.

Under the proposed MoU, the conflict would end permanently, and both sides would enter a 30-day period of negotiations for a comprehensive agreement, including a moratorium on Iranian nuclear enrichment, the U.S. release of frozen Iranian funds, U.S. sanctions relief and the gradual reopening of the Strait of Hormuz. The suspension of Project Freedom came after two consecutive days of Iranian drone and missile attacks against the United Arab Emirates. Trump's announcement came hours after U.S. Secretary of State Marco Rubio said the United States had ended Operation Epic Fury against Iran and would pivot to focus on Project Freedom.