US-Iran Draft Deal Includes Oil Sanctions Waiver and Nuclear Limits
A draft memorandum of understanding between Iran and the US includes several key concessions from both sides, according to an Iranian official. The agreement would allow Iran to reopen the Strait of Hormuz to all commercial vessels immediately after signing, with the US lifting its naval blockade on Iranian ports within 30 days.
The US has agreed not to impose any new sanctions on Iran until a final deal is reached, and would waive oil sanctions for a specified period, allowing Tehran to sell oil and receive revenue. Additionally, the US will release $25 billion of Iran's frozen assets through direct cash transfers, cooperation among regional countries, and financial credit lines.
The agreement also addresses nuclear issues, with Iran agreeing not to produce or acquire nuclear weapons. The country would maintain its current nuclear program status pending a final agreement, refraining from further uranium enrichment and expansion of nuclear facilities.