US-Iran MOU Signals Interim End to War, Oil Relief and Hormuz Terms

US officials outlined a preliminary MOU with Iran to end the 110-day conflict, with 60 days to negotiate a final deal. It calls for an immediate halt to fighting (including in Lebanon), Iran down-blending enriched uranium on Iranian soil under IAEA supervision, sanctions relief tied to the nuclear agreement, immediate waivers for crude oil and related services, and 60 days of toll-free Hormuz traffic with full restoration within 30 days (fees possible after). Access to Iran’s frozen assets would wait until implementing the terms. Both sides can walk away during negotiations, and a UN Security Council resolution would be needed for final endorsement; the plan remains fragile and subject to change, with Hezbollah/Israel dynamics adding risk.