Here's what the draft memo for a proposed deal with Iran includes

A draft proposal for an agreement with Iran includes a 60-day ceasefire extension, a commitment to ending all military operations on every front, including Lebanon, and affirmation from Iran that it won't develop nuclear weapons and will dispose of its enriched uranium stockpile, according to two regional officials with knowledge of the ongoing diplomacy. 

Iran has not yet agreed to all the terms, though a senior U.S. official said Sunday that they had agreed in principle to opening the Strait of Hormuz in exchange for a lifting of the U.S. blockade on Iranian ports and ships, as well as to disposing of its stockpile of enriched uranium. According to the draft, Iran would have to agree that its stockpile will be disposed of under a mechanism that has to be settled by both sides, sources said. But exactly how Iran's the stockpile of enriched uranium will be removed disposed of, and how that would be guaranteed, even if Iran agrees, is not yet determined. 

The draft proposal also says Iran would immediately reopen the Strait of Hormuz and take steps to ensure traffic returns to pre-war conditions within 30 days. But even if Iran ceased all military threats in the strait, it would likely take longer to ensure the strait was clear of any mines, and give companies enough confidence to traverse it. 

The U.S. senior administration official confirmed those points to CBS News, except for the declaration to the end of all military operations on every front, including Lebanon, and the 60-day extension of the ceasefire. After a call with Middle Eastern leaders on Saturday, President Trump said a peace deal with Iran had been "largely negotiated" but that final details were still being discussed. 

"Negotiations with the Islamic Republic of Iran are proceeding nicely!" Mr. Trump wrote on Truth Social Monday morning. "It will only be a Great Deal for all or, no Deal at all — Back to the Battlefront and shooting, but bigger and stronger than ever before — And nobody wants that!"

The two regional officials with knowledge of the ongoing diplomacy have confirmed to CBS News that, pending Iran's approval, the terms in the draft memorandum of understanding include:

• A 60-day extension of the current ceasefire.
• Iran immediately reopening the Strait of Hormuz and taking steps to ensure traffic returns to pre‑war conditions within 30 days.

• Iran and the U.S., together with their allies, declaring that all military operations on every front, including Lebanon, end immediately and permanently. They also commit not to start any war against each other and to refrain from threatening or using force.

• Iran reaffirming that it will never develop nuclear weapons.

• Iran agreeing that its stockpile of enriched uranium will be disposed of under a mechanism that both sides will agree on.

• Issues of Iran's frozen financial assets and sanctions against the regime will be dealt with based on Iran's compliance with the former points.

Iranian Foreign Ministry spokesman Esmaeil Baqaei said Monday that while there remain "some issues that we have not yet finalized," talks with the U.S. will continue. He claimed that the focus of the current talks is on ending the war, and that they are not discussing the details of the nuclear issue. Should they come to a finalized agreement on a memorandum of understanding, he said, negotiations on nuclear-related topics would then take place within a 60-day period.

"The frequent changes in positions and contradictions, which do not really need me to explain and which you can simply observe by looking at tweets issued by U.S. officials, show what situation we are dealing with and under what conditions we must pursue a diplomatic process with such a counterpart," said Baqaei. "This naturally creates its own problems and obstacles."

Mr. Trump remained in Washington this weekend instead of traveling to his son's Donald Trump Jr.'s wedding, citing "circumstances pertaining to government." The Trump administration on Friday was preparing for a fresh round of military strikes, according to sources with direct knowledge of the planning, but those strikes ultimately did not occur over the weekend as more diplomacy continued.