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

According to Odaily, Trump stated that the upcoming US-Iran memorandum of understanding requires the immediate resumption of navigation in the Strait of Hormuz without charging tolls, and the gradual granting of sanctions waivers provided Iran complies with its commitments. The agreement proposes extending the ceasefire for 60 days, covering Lebanon, and advancing nuclear negotiations during this period. The report states that the US and Iran have reached an agreement on the text, but final approval is still required. The memorandum contains a framework for addressing Iran's enriched uranium stockpile, and Iran pledges not to seek nuclear weapons. Further arrangements regarding nuclear matters will require implementation through a more detailed subsequent agreement. Furthermore, the agreement requires the Strait of Hormuz to return to pre-war shipping levels within 30 days. In exchange, the United States will lift its blockade measures and allow Iran to resume oil exports for a certain period. If Iran continues to comply with the agreement and demonstrates "sincerity" in subsequent negotiations, the scope of sanctions waivers will be further expanded. (Axios)