The US-Iran memorandum of understanding calls for the immediate reopening of the Strait of Hormuz, with Iran eligible for sanctions relief

Trump stated that the upcoming U.S.-Iran memorandum of understanding requires the immediate restoration of navigation in the Strait of Hormuz without charging tolls, and gradually granting sanctions exemptions based on Iran's compliance. The agreement aims to extend the ceasefire for 60 days, covering Lebanon, and advance nuclear negotiations during this period.

Reports indicate that the U.S. and Iran have reached an agreement on the text of the agreement, but it still requires final approval. The memorandum includes a framework for addressing Iran's enriched uranium stockpile issue, with Iran committing not to seek nuclear weapons; related nuclear arrangements still need to be implemented through subsequent, more detailed agreements.

Additionally, the agreement requires the Strait of Hormuz to restore pre-war shipping levels within 30 days. In exchange, the U.S. will lift relevant blockade measures and allow Iran to resume oil exports within a certain timeframe. If Iran continues to comply and demonstrates "good faith" in subsequent negotiations, the scope of sanctions exemptions will be further expanded.