U.S. and Iran agree to halt strikes and meet this week, U.S. official says

• The renewed fighting was sparked by competing interpretations of the memorandum of understanding (MOU) to end the war — especially its terms on the Strait of Hormuz.

The latest: "We decided to stop all the kinetic activity," a senior U.S. official tells Axios, using the military's term for strikes and other attacks.

• A second U.S. official tells Axios both sides will stand down "for now" and that "vessels can move freely" as technical talks are set to continue.
• Both U.S. officials and a third source with knowledge confirmed Tuesday's planned meeting.

Catch up quick: Under the MOU, Iran committed to make its best efforts to allow safe passage of commercial vessels through the strait. In return, the U.S. lifted its blockade of Iranian ports.

• During negotiations in Switzerland last week, the U.S. delegation — headed by Vice President Vance — agreed with Iran to establish a "hotline" between the U.S. military and the IRGC (Islamic Revolutionary Guard Corps), Iran's military command, to coordinate traffic in the strait.
• As of Saturday, the "hotline" still wasn't operational even as Iran started claiming, again, that ships need to coordinate passage.

State of play: The Tuesday talks were originally set to happen in Switzerland to address Iran's nuclear program, a source with knowledge of the talks said. The escalation moved them to a different venue and refocused them on the Strait of Hormuz.

• Nick Stewart, who heads the U.S. technical team, is expected to participate in the talks, according to a U.S. official and a source with knowledge.
• The White House didn't immediately respond to a request for comment.

Editor's note: This story has been updated with additional information.