The United States and Iran have circulated a 14-point draft memorandum of understanding that, if finalized, would represent the most significant diplomatic breakthrough between the two nations in decades. The MOU covers a ceasefire framework, US commitments on Iranian sovereignty, plans for sanctions relief, and a roadmap for Iran’s reconstruction.
What’s actually in the deal
The 14-point framework reportedly includes US commitments to lift oil sanctions and release up to $25 billion in frozen Iranian assets.
In exchange, Iran would reopen the Strait of Hormuz and agree to a moratorium on nuclear enrichment. The Strait of Hormuz is the narrow waterway through which roughly a fifth of the world’s oil supply passes, so its closure during recent tensions has had outsized effects on global energy markets.
The frozen asset release appears to have a wide range under discussion, with figures between $6 billion and $25 billion on the table depending on how phased releases and conditions are structured.
