US-Iran memorandum of understanding requires immediate reopening of the Strait of Hormuz, allowing Iran to be exempted from sanctions

Trump said that the US-Iran memorandum of understanding to be signed requires the immediate resumption of navigation in the Strait of Hormuz without tolls, and to gradually grant sanctions exemptions on the premise of Iran's compliance. The agreement proposes to extend the ceasefire by 60 days to cover Lebanon and advance nuclear negotiations during this period.<br /> Reports said that the United States and Iran have reached an agreement on the text of the agreement, but final approval is still needed. The memorandum contains a framework for dealing with Iran's enriched uranium stockpile. Iran promises not to seek nuclear weapons, and relevant nuclear arrangements still need to be implemented through subsequent more detailed agreements.<br /> In addition, the agreement requires the Strait of Hormuz to return to pre-war shipping levels within 30 days. In exchange, the United States will lift relevant blockade measures and allow Iran to resume oil exports within a certain period of time. If Iran continues to comply with its obligations and shows "sincerity" in subsequent negotiations, the scope of sanctions exemptions will be further expanded.