Neither the US nor Iran have made any comment about the MOU as regional tensions continue, however.
Citing a source close to the negotiating team, Iran’s semi-official Tasnim news agency reported that the text of the MOU had not yet been finalised or confirmed, and the public would be notified once that occurred.
Here’s what we know so far about the MOU, its terms, aims and what it means for the war.
What will the proposed agreement contain?
According to a report by US news outlet Axios, citing two unnamed US officials and one unnamed regional source involved in the mediation efforts, the MOU will include agreements about the following:
The Strait of Hormuz
According to media reports, the MOU will state that shipping through the Strait of Hormuz is to be “unrestricted”, meaning there will be no tolls, no “harassment”, and that Iran will have 30 days to remove all mines.
The ongoing US naval blockade on Iranian ports will also be lifted “in proportion to the restoration of commercial shipping” through the strait. The US will also waive a number of sanctions on Iran, allowing it to sell oil freely.
The issue over control of the strait has been a major sticking point in peace negotiations between the US and Iran – mostly conducted via Pakistani mediators.
