Tehran has received a draft of the initial unofficial framework for a memorandum of understanding with the US, Iranian state TV reported on Wednesday.

Iran has agreed in principle to reopen the Strait of Hormuz in exchange for the United States lifting its naval blockade and resolving issues surrounding Tehran’s stockpile of…

The plan, under discussion between US and Iran, would reopen Hormuz 30 days after the two countries agree to a deal to end hostilities in the Middle East. | World News

Oil drops as US-Iran draft deal signals possible reopening of Strait of Hormuz