Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release

• Iran agrees to immediately reopen the Strait of Hormuz to commercial vessels while the U.S. lifts its naval blockade on Iranian ports
• The U.S. will waive oil sanctions allowing Iran to sell oil and receive revenue, plus release $25 billion in frozen Iranian assets through direct transfers and credit lines
• Tehran commits to maintaining nuclear status quo by not enriching uranium or expanding facilities, and will dilute its highly enriched uranium stockpile with implementation details to be finalized within 60 days

Summary

Key Development

Iran and the United States have finalized a draft memorandum of understanding addressing nuclear activities, oil sanctions, and regional maritime security. A senior Iranian official confirmed the agreement will be discussed over a 60-day period following approval by both parties.

Major Terms

Strait of Hormuz: Iran will immediately reopen the strategic waterway to all commercial vessels, while the U.S. lifts its naval blockade on Iranian ports.

Financial Provisions:

• U.S. waives oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenue
• Release of $25 billion in frozen Iranian assets through direct cash transfers, regional cooperation, and financial credit lines
• No new U.S. sanctions on Iran until a final deal is reached

Nuclear Commitments:

• Iran agrees not to produce or acquire nuclear weapons
• Tehran commits to maintaining nuclear status quo, including halting uranium enrichment and facility expansion
• Iran will dilute its highly enriched uranium stockpile domestically, with implementation mechanisms to be discussed within 60 days

Market Implications

The agreement could significantly impact global energy markets by returning Iranian oil supply to international markets. The reopening of the Strait of Hormuz—a critical chokepoint for approximately 20% of global oil transit—would ease geopolitical risk premiums. The $25 billion asset release provides Iran substantial economic relief and purchasing power.

This development signals potential de-escalation in Middle East tensions and could pressure oil prices downward while benefiting global trade flows through the strategic waterway.