TEHRAN, JUN 14: A senior Iranian official told Reuters a final draft of the memorandum of understanding with the US covered a range of issues from Tehran’s nuclear work to reopening the Strait of Hormuz and US waivers on oil sanctions, with a final deal to be discussed in the 60 days following agreement by the two sides.

The Iranian official said the draft memorandum included the following:

Strait of Hoemuz

Iran immediately reopens the Strait of Hormuz to all commercial vessels, while the US lifts its naval blockade on Iranian ports
Financial

The US agrees not to impose any new sanctions on Iran until a final deal is reached
The US will waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenue
The US agrees to release $25 billion of Iran’s frozen assets, including via direct cash transfers, cooperation among regional countries, and financial credit lines.
Nuclear

Tehran agrees that it will neither produce nor acquire nuclear weapons
Tehran agrees to maintain the nuclear status quo until a final deal is reached, including by not enriching uranium and not expanding nuclear facilities
The US agrees Tehran will dilute its highly enriched uranium stockpile inside Iran, with a mechanism for doing so to be discussed within 60 days.