U.S.-Iran Memorandum Requires Strait of Hormuz to Reopen Immediately, Iran to Receive Gradual Sanctions Relief

According to ChainCatcher, an upcoming U.S.-Iran memorandum of understanding requires the Strait of Hormuz to reopen immediately without transit fees and restore to pre-war shipping levels within 30 days. In exchange, the U.S. will lift related blockades and allow Iran to resume oil exports. Iran is eligible for gradual sanctions relief upon compliance with the agreement.

The accord extends a ceasefire for 60 days covering Lebanon and includes a framework for nuclear negotiations. The memorandum addresses Iran's enriched uranium stockpile, and Iran commits not to pursue nuclear weapons, with detailed arrangements to be finalized in subsequent talks.