A senior Iranian official has revealed to Reuters the contents of a draft memorandum of understanding between Iran and the United States, touching on everything from nuclear restrictions to trade routes and financial relief measures. If agreed upon, the two countries would then have 60 days to hammer out a final deal.
The official outlined several key areas covered in the draft document:
Strait of Hormuz: Under the proposed terms, Iran would immediately reopen the Strait of Hormuz to all commercial shipping, while the United States would lift its naval blockade on Iranian ports. The blockade would begin to be lifted as soon as the memorandum is signed and would be fully removed within 30 days.
Financial Provisions: The draft calls for the U.S. to hold off on imposing any new sanctions against Iran until a permanent agreement is finalized. Once a final deal is reached, both U.S. and United Nations sanctions on Iran would be lifted on an agreed-upon schedule. The U.S. would also temporarily waive oil sanctions, giving Iran the ability to sell oil and collect revenue during that period. Additionally, Washington would release $25 billion in Iranian assets that have been frozen, through a combination of direct cash payments, cooperation with regional partners, and financial credit arrangements. The U.S. and its regional allies would also develop a reconstruction and development plan for Iran, to be negotiated with Tehran within 60 days.
Nuclear Terms: On the nuclear front, Iran would commit to neither building nor obtaining nuclear weapons. While a final agreement is being worked out, Iran would keep its nuclear program at its current level — meaning no additional uranium enrichment and no expansion of nuclear facilities. The U.S. would agree to permit Iran to dilute its stockpile of highly enriched uranium within its own borders, under the terms of a future comprehensive agreement. The full scope of Iran’s nuclear activities, enrichment operations, and how its enriched uranium stockpile would be handled would all be subject to negotiation within 60 days of the memorandum being signed.
