Iran’s Tasnim News Agency is reporting that a draft memorandum of understanding between the United States and Iran would require US forces to withdraw from Iran’s vicinity within 30 days of a finalized agreement. The 14-point document, still awaiting full approval from Iranian authorities, would also mandate lifting the US naval blockade and reopening non-military shipping through the Strait of Hormuz.

What the draft MoU actually says

The 14-point memorandum covers the end of active warfare and a 30-day timeline for lifting the naval blockade on Iranian ports. Under the proposed terms, both Iran and Oman would be involved in managing shipping through the Strait of Hormuz going forward.

Reports indicate a potential phased release of frozen Iranian assets that could total up to $24 billion. The initial phases of that release are currently under discussion, though the exact structure and timeline remain part of active negotiations.

No final approval has been granted to the MoU text by all relevant Iranian authorities. Some Iranian officials have acknowledged progress in the talks, but the document isn’t a done deal.