Hormuz Reopening, No New Sanctions On Iran: Inside US-Iran Draft Deal

A senior Iranian official told Reuters a final draft of the memorandum of understanding with the US covered a range of issues from Tehran's nuclear work to reopening the Strait of Hormuz and US waivers on oil sanctions, with a final deal to be discussed in the 60 days following agreement by the two sides.

The Iranian official said the draft memorandum included the following:

Strait Of Hormuz:

• Iran immediately reopens the Strait of Hormuz to all commercial vessels, while the US lifts its naval blockade on Iranian ports.

Financial:

• The US agrees not to impose any new sanctions on Iran until a final deal is reached.
• The US will waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenue.
• The US agrees to release $25 billion of Iran's frozen assets, including via direct cash transfers, cooperation among regional countries, and financial credit lines.

Nuclear:

• Tehran agrees that it will neither produce nor acquire nuclear weapons.
• Tehran agrees to maintain the nuclear status quo until a final deal is reached, including by not enriching uranium and not expanding nuclear facilities.
• The US agrees Tehran will dilute its highly enriched uranium stockpile inside Iran, with a mechanism for doing so to be discussed within 60 days.

(Except for the headline, this story has not been edited by NDTV staff and is published from a press release)