The memorandum of understanding with Iran to end the war, reopen the Strait of Hormuz, and restrain Tehran’s nuclear ambitions was revealed by senior U.S. officials on June 17.
The deal, which was read by a senior U.S. official in a call with reporters, requires Iran to immediately reopen the Strait of Hormuz without tolls during a 60-day period of negotiations.
Iran has also agreed to, at a minimum, downblend its stockpile of enriched uranium. The deal allows for potential future economic relief if Iran responds favorably to the United States’ demands.
The agreement would also allow Iran to sell its oil without restrictions. The deal provides for a 60-day window for negotiations on Iran’s nuclear program.
Additionally, once all parties sign and ratify the memorandum of understanding, the United States will begin removing its naval blockade around Iran, one official said.
This is a developing story and will be updated.
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