The US and Iran on Sunday reached an agreement on a Pakistan-brokered memorandum of understanding (MOU) setting out a 60-day ceasefire and gradual reopening of the Strait of Hormuz, and which is ultimately geared toward bringing the Mideast conflict that kicked off on Feb. 28 to an end.
US-Iran Deal: What to Expect on Hormuz Flows, Iran Sanctions Relief
Final details of the US-Iran MOU are still pending, but Hormuz transit and Iran sanctions relief could be bumpy in the near term.
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