What we know about the emerging US-Iran draft deal: Hormuz, nuclear, sanctions, and Lebanon

BEIRUT — The United States and Iran could finalize a "memorandum of understanding" on Sunday, after reports of a breakthrough in their talks to end the war.

This agreement would include, among other elements, the reopening of the Strait of Hormuz, the suspension of Iran's nuclear program, as well as the lifting of sanctions on Iran. Regarding Lebanon, the agreement could even allow for an end to the war between Hezbollah and Israel.

U.S. outlet Axios reveals that both parties are expected to sign a memorandum of understanding for a period of 60 days, renewable by mutual consent. The United States would agree to negotiate the lifting of sanctions and the release of Iranian funds during the 60-day period, but these measures would only be implemented as part of a final agreement whose enforcement could be verified. The American forces deployed in recent months would remain in the region during these 60 days and would only withdraw in the event of a final agreement.

Here are the key points that are expected to be adopted.

Reopening of the Strait of Hormuz

During the 60 days outlined in the memorandum of understanding, the Strait of Hormuz would be open to navigation without tolls, and Iran would commit to clearing mines from the area to allow the free passage of ships, Axios reports.

In exchange, the United States would lift the blockade on Iranian ports and grant exemptions to certain sanctions to allow Iran to freely export its oil. "A windfall for the Iranian economy" but also for the global oil market, which has been in crisis since the conflict began. According to an American official cited by Axios, the faster the Iranians clear mines from the area and allow maritime traffic to resume, the faster the blockade will be lifted.

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According to the Iranian agency Tasnim, cited by Reuters, a period of 30 days will be devoted to procedures related to the Strait of Hormuz and the lifting of the blockade.

Nuclear

According to Axios, the draft protocol agreement includes commitments from Iran never to acquire nuclear weapons and to negotiate the suspension of its uranium enrichment program as well as the dismantling of its stockpile of highly enriched uranium. Iran reportedly gave the United States, via intermediaries, verbal commitments regarding the extent of the concessions it is prepared to make on suspending enrichment and abandoning nuclear material.

The Tasnim agency indicates that 60 days will be devoted to nuclear negotiations. For this issue, the agency specifies that Iran has not yet agreed to any measures.

The Lebanese front

The "memorandum of understanding" between the United States and Iran will focus on "ending the war on all fronts, including in Lebanon," reports the Tasnim agency. "Israel must put an end to the war in Lebanon," the agency adds. This information was also reported Saturday by Hezbollah, which reportedly received assurances on this matter in a letter sent by Iranian Foreign Minister Abbas Araghchi to the secretary-general of Hezbollah, Naim Qassem.

What about the Gulf?

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"The draft protocol agreement also states that the war between Israel and Hezbollah in Lebanon would end," Axios notes. Citing an American official, the outlet clarifies this would not be a unilateral cease-fire and that if Hezbollah tried to rearm or provoke attacks, Israel would be allowed to take measures to prevent it.

Sanctions

Sanctions against Iran could be lifted as negotiations advance, according to reports. The core principle from President Donald Trump in this agreement is "sanctions relief based on results achieved," Axios explains. Iran, for its part, wanted the immediate release of funds and the permanent lifting of sanctions, but the American side insisted this would only happen after tangible concessions.

According to CBS News, citing sources close to the talks, the latest proposal would include the unfreezing of some Iranian assets in foreign banks and the continuation of negotiations for an additional 30 days. This timeline is also reported by the Wall Street Journal.