Agreement includes sanctions relief, frozen funds release, and immediate lifting of US blockade on Iran.
The US and Iran have signed a memorandum of understanding to immediately reopen the Strait of Hormuz and lift the US blockade on Iran, effective Friday. The deal, signed by US and Iranian officials, is expected to significantly increase maritime traffic in the strait starting this week, according to a senior US official.
The agreement follows months of negotiations and includes provisions for sanctions relief and the release of frozen Iranian funds, contingent on Iran’s verifiable and irreversible steps. Technical discussions are set to begin later this week, with details of the deal to be released within 48 hours. The US will maintain its current military posture during the next phase of negotiations but may reduce forces upon finalizing a broader agreement.
The deal does not require Israel’s withdrawal from Lebanon but affirms Israel’s right to defend itself against Hezbollah attacks. Initial sanctions relief may include small gestures, with further measures tied to Iran’s compliance.