A senior Iranian official has told Reuters that a draft memorandum of understanding under discussion with the United States sets out wide-ranging measures covering Iran’s nuclear programme, sanctions relief and maritime access, including the reopening of the Strait of Hormuz, waivers on oil sanctions and the release of frozen Iranian assets.
The proposed framework, if agreed, would also establish a 60-day window for negotiating a comprehensive final accord between Tehran and Washington, reports Reuter.
The official said the draft represents an interim arrangement intended to stabilise relations while detailed talks continue, with provisions spanning security, financial restrictions and nuclear activity.
It outlines immediate reciprocal steps by both sides, alongside longer-term commitments to be finalised within two months of the memorandum being signed.
According to the Iranian official, one of the central elements concerns the Strait of Hormuz, a critical global shipping route.
Under the draft, Iran would immediately reopen the strait to all commercial vessels. In parallel, the United States would lift what was described as a naval blockade on Iranian ports, with the removal process beginning immediately after signing and completed within 30 days.
On financial measures, the draft states that the United States would agree not to impose any new sanctions on Iran until a final agreement is reached.
It also envisages the lifting of all US and United Nations sanctions on Iran following a comprehensive deal, implemented according to an agreed timetable.
In addition, Washington would waive oil sanctions on Iran for a specified period, enabling Tehran to resume crude exports and access associated revenues.
The draft also includes a commitment to release around $25 billion in frozen Iranian assets. These funds would reportedly be made available through a combination of direct cash transfers, regional cooperation mechanisms and financial credit lines.
The document further proposes that the United States, working with regional allies, would prepare a reconstruction and development plan for Iran.
This plan would be negotiated with Tehran and agreed within 60 days of the memorandum, according to the official.
On the nuclear file, Iran would commit that it will neither produce nor acquire nuclear weapons. The draft also states that, pending a final agreement, Iran would maintain the current status of its nuclear programme, including refraining from further uranium enrichment and the expansion of nuclear facilities.
It further allows for Iran’s highly enriched uranium stockpile to be diluted on Iranian soil under a future comprehensive agreement. The handling of Iran’s uranium stockpile, enrichment activities and broader nuclear framework would be subject to negotiation within the same 60-day period following the memorandum.
The draft also specifies that Iran’s nuclear programme and related mechanisms would be addressed in full as part of the final agreement, alongside verification and implementation arrangements to be determined during talks.
The proposed framework comes amid ongoing tensions between Tehran and Washington over Iran’s nuclear ambitions and long-standing US sanctions policy. Previous negotiations have repeatedly stalled over verification mechanisms, sequencing of sanctions relief and concerns among Western governments over uranium enrichment levels.
If implemented, the draft would mark one of the most significant shifts in US-Iran relations in years, combining phased sanctions relief with restrictions on nuclear activity and structured economic engagement. However, the document remains a proposal under discussion, with no final agreement confirmed by either side.
The Strait of Hormuz, through which a significant share of global oil shipments pass, remains a focal point of geopolitical risk. Any change in its operational status, as outlined in the draft, would have immediate implications for global energy markets and regional security dynamics.
Negotiations are expected to continue within the proposed 60-day window, during which both sides would attempt to convert the memorandum into a binding comprehensive agreement covering nuclear restrictions, sanctions relief, financial assets and regional economic cooperation.
