New Iran-U.S. draft MoU aims to reopen Hormuz and lift oil sanctions

1 min read
Source: CNBC
New Iran-U.S. draft MoU aims to reopen Hormuz and lift oil sanctions
Photo: CNBC
TL;DR

Iranian state media reported a 14‑point draft memorandum of understanding with the United States that would reopen the Strait of Hormuz within 30 days and lift oil sanctions in exchange for U.S. withdrawal and reconstruction plans worth at least $300 billion; final negotiations would not begin until half of Iran’s frozen funds are released and the naval blockade is lifted. President Trump called it a “great settlement” pending final documents, markets rallied on peace hopes, Israel’s Netanyahu weighed in on related restrictions, and CNBC asked the White House for comment.

Share this article

Want the full story? Read the original reporting

Read on CNBC