Iranian official says draft US deal includes nuclear limits and asset release: Report

A senior Iranian official speaking to Reuters said that the final draft of the memorandum of understanding with the US covered several issues, including the reopening of the Strait of Hormuz.

A final deal is set to be discussed in the 60 days following an agreement reached by the two sides, the official noted. 

The contents of the draft includes: 

• Tehran immediately reopening the Strait of Hormuz to all commercial vessels, while the US lifts its naval blockade on Iranian ports.

• Washington agrees not to impose any new sanctions on Tehran, until a final deal is reached. 

• The US will also waive oil sanctions on Iran for a certain period of time, allowing it to sell oil and receive revenue. 

• The US agrees to release $25bn of Iran's frozen funds, through a number of ways, including direct cash transfers, cooperation among regional countries and financial credit lines.

• On the issue of nuclear activity, Iran agrees that it will neither produce nor gain nuclear weapons.

• Tehran agrees to maintain the nuclear status quo until a final deal is reached, including avoiding enriching its uranium and expanding nuclear facilities.

• The US agrees that Tehran will dilute its highly enriched uranium stockpile inside Iran, with a mechanism to begin this process to be discussed within 60 days.