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

DUBAI - A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues from Tehran's nuclear work to reopening the Strait of Hormuz and U.S. 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 HORMUZ:

* Iran immediately reopens the Strait of Hormuz to all commercial vessels, while the U.S. lifts its naval blockade on Iranian ports

FINANCIAL:

* The U.S. agrees not to impose any new sanctions on Iran until a final deal is reached

* The U.S. will waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenue

* The U.S. 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 U.S. agrees Tehran will dilute its highly enriched uranium stockpile inside Iran, with a mechanism for doing so to be discussed within 60 days

(Reporting by Parisa Hafezi, Writing by Dubai Newsroom;Editing by Elaine Hardcastle)

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published June 14, 2026 at 6:24 AM.