Final details of the US-Iran MOU are still pending, but Hormuz transit and Iran sanctions relief could be bumpy in the near term.

U.S. and Iran reportedly drafted a 14-point MOU outlining steps to ease tensions before formal peace talks begin.

Iran and US are close to signing a non-binding MOU to extend the ceasefire by 60 days and reopen the Strait of Hormuz, with crypto market implications.