The memorandum of understanding being negotiated between Iran and the US will call for US military forces to withdraw from Iran’s vicinity and lift the blockade of Iranian ports in return for the reopening of the Strait of Hormuz. Follow for live updates.

Proposed framework hinges on a 60-day truce, reopening strait of Hormuz, and revived talks on limiting Iran nuclear programme

US secretary of state Marco Rubio said ‘significant progress’ made on draft peace deal with Iran on Sunday