A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range ‌of issues, from Tehran’s nuclear work to reopening the Strait of Hormuz and U.S. 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 ‌U.S. ⁠lifts its naval blockade on Iranian ports. The ⁠lifting of the U.S. blockade would begin immediately after the memorandum is signed and be completed within 30 days.

Financial:

* The U.S. agrees not to impose any ‌new sanctions on Iran until a final deal is reached.

* Following a final agreement, all U.S. and U.N. sanctions on Iran would be lifted according to ‌an agreed timetable.

* The U.S. will waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive ⁠revenue.

* The U.S. agrees to release $25 billion of Iran’s frozen assets, including via direct cash transfers, cooperation among regional ‌countries, and financial credit lines.

* Washington, in coordination with its regional allies, would prepare a reconstruction and development plan for Iran, to be negotiated and agreed with Tehran within 60 days.

Nuclear:

* Tehran agrees that it will neither produce nor acquire nuclear weapons.

* Pending a ‌final agreement, Iran would maintain the current status of its nuclear programme, refraining from further uranium enrichment and expansion of nuclear facilities.

* The United States agrees ⁠to allow Iran to dilute its stockpile of highly enriched ⁠uranium on Iranian soil under a future comprehensive agreement.

* Iran’s nuclear programme, uranium enrichment activities and mechanisms ‌for handling its stockpile of highly enriched uranium would be negotiated within 60 days of the memorandum and addressed in a final agreement.