The US ​will have to waive oil sanctions on Iran for a specified period, allowing ⁠Tehran to sell oil and receive revenue. | Photo Credit: MORTEZA NIKOUBAZL

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

Published on June 14, 2026