**Iran Reveals Draft US Deal Including Oil Sanctions Waiver and Nuclear Limits**
*14 June 2026*
Iran has disclosed that a draft memorandum of understanding with the United States encompasses several significant provisions, including waivers on oil sanctions, limitations on its nuclear program, and the release of frozen assets. A senior Iranian official provided these details to Reuters, indicating that the agreement aims to address a variety of contentious issues between the two nations.
According to the Iranian official, the draft outlines a plan for the immediate reopening of the Strait of Hormuz to all commercial vessels. In return, the United States would lift its naval blockade on Iranian ports, a process expected to commence promptly after the signing of the memorandum and be completed within 30 days.
Financially, the United States has agreed not to impose any new sanctions on Iran until a final deal is reached. Following the conclusion of a comprehensive agreement, all U.S. and U.N. sanctions against Iran would be lifted according to a mutually agreed timetable. Notably, the U.S. would waive oil sanctions for a specified period, facilitating Iran's ability to sell oil and generate revenue. Additionally, the deal includes provisions for the release of $25 billion of Iran's frozen assets, which would be achieved through direct cash transfers, cooperation among regional countries, and the establishment of financial credit lines.
The draft also outlines a collaborative effort between the U.S. and its regional allies to formulate a reconstruction and development plan for Iran. This plan would be negotiated and finalized within 60 days following the signing of the memorandum.
On the nuclear front, Iran has committed to neither producing nor acquiring nuclear weapons. Pending the final agreement, Iran would maintain the current status of its nuclear program, refraining from further uranium enrichment and the expansion of nuclear facilities. The United States would permit Iran to dilute its stockpile of highly enriched uranium on Iranian soil as part of the future comprehensive agreement. The specifics of Iran's nuclear program, including uranium enrichment activities and the management of its stockpile, would also be subject to negotiation within the 60-day timeframe following the memorandum.
As discussions progress, the timeline for a final agreement remains uncertain, but both sides appear to be inching closer to a resolution. The potential deal has garnered attention, with various stakeholders monitoring the developments closely, particularly in light of its implications for regional stability and international relations.
In other news, two Spanish passengers were recently detained at Paphos airport for carrying undeclared tobacco, and a tragic accident occurred on the Skarinou motorway, resulting in the death of a motorcyclist who was attempting to avoid a dog.
As the situation evolves, further updates are expected regarding the negotiations between Iran and the United States, as well as the broader geopolitical landscape in the region.