Iran-US Draft Agreement Includes Oil Sanctions Relief and Nuclear Restrictions

A draft memorandum of understanding between Iran and the United States includes provisions covering oil sanctions relief, nuclear restrictions, the reopening of the Strait of Hormuz and the release of frozen Iranian assets, according to a senior Iranian official.

The proposal would immediately reopen the Strait of Hormuz to commercial shipping while the United States would begin lifting restrictions on Iranian ports. The process would start after the agreement is signed and be completed within 30 days.

Oil Sanctions Waiver and Asset Release

Under the draft, Washington would refrain from imposing new sanctions on Iran while negotiations continue. The proposal also includes a temporary waiver on Iranian oil exports, allowing Tehran to sell oil and access related revenues.

The agreement further calls for the release of $25 billion in frozen Iranian assets through direct transfers, regional cooperation mechanisms and financial credit arrangements. A broader plan for Iran’s economic reconstruction and development would also be negotiated within 60 days.

Nuclear Program Remains Central Issue

Iran would commit not to produce or acquire nuclear weapons and would maintain its current nuclear activities without expanding uranium enrichment or facilities during negotiations.

Both sides would spend the following 60 days negotiating a comprehensive agreement covering uranium enrichment, nuclear oversight and the management of Iran’s highly enriched uranium stockpile, which would form the basis of a final long-term deal.