A draft memorandum between Washington and Tehran has begun to surface, with a senior Iranian official revealing to Reuters that the proposed agreement includes Iran's commitment to refrain from producing or acquiring nuclear weapons. Under this draft framework, Iran would immediately reopen the Strait of Hormuz to all commercial vessels, while the United States would lift its naval blockade.
Key Provisions of the Draft Memorandum
The official also stated that Washington has agreed to permit Tehran to dilute its stockpile of highly enriched uranium within Iran. Both sides are expected to discuss the implementation mechanism over the next 60 days. The draft memorandum includes provisions for sanctions relief, with the United States waiving oil sanctions on Iran for a specified period, allowing Tehran to resume oil exports and access revenue from those sales.
Release of Frozen Assets
The memorandum outlines the release of Iranian assets frozen abroad. The United States would release $25 billion in Iranian funds through direct cash transfers, cooperation with regional countries, and extension of financial credit lines. This development coincides with a Qatari delegation arriving in Tehran on Sunday to discuss the latest diplomatic efforts between Iran and the United States, as reported by Iranian media.
The delegation, led by an adviser to Qatar's Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, held consultations with Iranian officials as part of ongoing exchanges of messages between Tehran and Washington over the proposed memorandum of understanding aimed at ending the conflict.
Iranian Foreign Minister's Statements
Iranian Foreign Minister Abbas Araghchi stated on Friday that Tehran and Washington could announce an initial understanding in the coming days, though discussions have not yet been finalized. He noted that the talks center on a 14-point memorandum of understanding still under review. According to Araghchi, the proposed framework envisages a two-stage process: an initial memorandum of understanding followed by a second round of negotiations expected to last about 60 days. Issues such as sanctions relief, the nuclear program, enrichment-related matters, economic reconstruction, and other key issues would be addressed in the second phase.
Araghchi emphasized the need for implementation guarantees, stating that mechanisms must be put in place to prevent future violations of any agreement.
US President's Remarks
Meanwhile, US President Donald Trump posted on Truth Social on Saturday that the agreement is "scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL." Trump described the proposed arrangement as "A WALL TO NO NUCLEAR WEAPON" and contrasted it with the Joint Comprehensive Plan of Action (JCPOA) negotiated during the Obama administration.
