Iranian officials revealed a draft US-Iran memorandum: opening the Strait of Hormuz, unfreezing US assets, and exempting oil sanctions.

CoinFeed reported on June 14th, citing Reuters, that a senior Iranian official stated that Tehran has agreed not to produce or acquire nuclear weapons under a draft memorandum of understanding with the United States. The draft memorandum allows Tehran to dilute its highly enriched uranium stockpile within Iran, with specific mechanisms to be discussed within the next 60 days. According to the draft memorandum, the US will waive oil sanctions on Iran for a specified period, allowing Iran to sell oil and receive revenue. Iran will immediately reopen the Strait of Hormuz to all merchant ships, and the US will lift its maritime blockade. The US has agreed to release $25 billion in frozen Iranian assets through direct cash transfers, cooperation among regional countries, and financial credit lines. Until a final agreement is reached, Iran has agreed to maintain its nuclear status quo, including refraining from uranium enrichment activities and expanding its nuclear facilities. The US has agreed not to impose any new sanctions on Iran until a final agreement is reached.