The United States and Iran are reportedly closing in on a Memorandum of Understanding that would mark one of the most significant diplomatic breakthroughs between the two nations in decades. The proposed framework calls for phased sanctions relief, immediate oil export waivers, and a reconstruction fund for Iran, with negotiations on core issues expected to unfold over a 30-to-60-day window after the MOU is signed.
A figure of $300 billion has been circulated as the scale of the proposed reconstruction plan, though that number has not been substantiated by current reporting. What is clearer: sanctions relief would be contingent on Iran taking verifiable steps, including transferring its highly enriched uranium stockpiles to international authorities.
What’s on the table
Immediate oil export waivers would allow Iran to resume selling crude on international markets without the threat of secondary sanctions hitting buyers. Beyond oil, the deal contemplates the release of tens of billions in frozen Iranian assets, phased and tied directly to Iran’s compliance milestones.
The reopening of the Strait of Hormuz, a critical chokepoint through which roughly a fifth of the world’s oil passes, is also on the agenda.
