A senior Iranian official disclosed to Reuters that a draft memorandum of understanding with the US includes a temporary waiver on oil sanctions, commitments to nuclear limitations, and the release of frozen Iranian assets. If finalized, the deal would mark the most significant diplomatic breakthrough between Washington and Tehran in years, with ripple effects reaching well beyond the Middle East and into crypto and commodity markets.
The draft reportedly gives both sides a 60-day window to hammer out a final agreement. During that period, the US would commit to imposing no new sanctions, while Iran would refrain from further uranium enrichment or expanding its nuclear facilities.
What’s actually in the draft
The proposed MoU covers several major sticking points that have defined US-Iran tensions for more than a decade. Iran would maintain the status quo on uranium enrichment and dilute approximately 450 kg of its highly enriched uranium stockpiles. That last part is notable because it introduces a domestic dilution mechanism, a departure from the 2015 JCPOA framework, which relied on transferring enriched material to third countries.
The draft also includes a commitment to no weapons production, the reopening of the Strait of Hormuz, and the unfreezing of Iranian assets held abroad. The Strait of Hormuz detail matters enormously. Roughly a fifth of global oil passes through that chokepoint, and any disruption there has historically sent energy prices spiraling.
