A draft US-Iran memorandum covers Tehran’s nuclear programme, the reopening of the Strait of Hormuz, and US oil sanctions waivers, a senior Iranian official told Reuters.
The official said a final agreement would be negotiated within 60 days after both sides endorse the memorandum. The draft also covers the reopening of Iranian ports and the handling of frozen Iranian assets.
Under the draft, Iran would immediately reopen the Strait of Hormuz to all commercial vessels. The United States would lift its naval blockade on Iranian ports.
The official said the lifting of the blockade would begin after the memorandum is signed and would be completed within 30 days.
Washington would not impose new sanctions on Iran until a final agreement is reached, according to the official. After that agreement, US and United Nations sanctions would be removed under a mutually agreed timetable.
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The draft would also waive US oil sanctions on Iran for a specified period. That step would allow Tehran to resume oil exports and receive related revenues.
The memorandum includes the release of $25 billion in frozen Iranian assets. The official said the funds would move through direct cash transfers, regional cooperation mechanisms and financial credit arrangements.
The United States and regional allies would also prepare a reconstruction and development plan for Iran. The proposal would be negotiated with Tehran and finalised within 60 days.
On the nuclear file, Iran would commit to neither producing nor acquiring nuclear weapons. Tehran would also freeze further uranium enrichment and facility expansion while the final agreement is negotiated.
The official said key nuclear issues, including uranium enrichment and the handling of highly enriched uranium stockpiles, would be negotiated during the 60-day period.
