The United States and Iran reached an agreement on Thursday to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz, Reuters reported citing sources, though U.S. President Donald Trump has yet to approve ‌it and Iranian state media said it had not been finalized.

According to four sources familiar with the matter, the agreement would extend the truce for another 60 days and allow traffic to flow through the strategic waterway while negotiators tackle difficult issues such as Iran’s nuclear program.

If approved by leadership in Washington and Tehran, it would amount to the biggest step towards peace since the conflict began on February 28. News of the possible agreement came after a round of tit-for-tat attacks between the two countries, the latest such incident since the ceasefire took effect in early April.

Trump has not yet approved the deal, the sources said. Iran has yet to comment on news of the proposed deal, which was first reported by Axios.

Iran’s Tasnim news agency, citing a source close to the negotiating team, said the text of the agreement had not been ⁠finalized or confirmed.