U.S., Iran Outline MoU Framework Aimed at Fully Restoring Hormuz Shipping Within 30 Days

BlockBeats reported that The Washington Post said on May 24 the United States and Iran have agreed on a framework for a memorandum of understanding (MoU) that, if signed, would fully restore shipping through the Strait of Hormuz within 30 days. Citing an anonymous senior U.S. official, the report said the draft framework includes a 60-day extension of the ceasefire to give both sides time to negotiate a "final agreement" to permanently end the conflict. During that period, mines would be cleared from the Strait of Hormuz and the waterway reopened. The official added that the MoU contains a "commitment" that Iran will not possess nuclear weapons, with the U.S. and Iran set to discuss implementation "mechanisms" over the next two months. No agreement was signed on May 24, the report said. A diplomatic source familiar with the matter told The Washington Post that once an MoU is signed, Iran would immediately reopen the strait and take steps within 30 days to return the waterway to prewar conditions. The report also said Iran, the United States, and their allies would announce an immediate halt to military operations across all fronts, including in Lebanon. An anonymous Iranian official told the newspaper the reopening would proceed in phases. In the first phase, the United States would unfreeze $12 billion in Iranian assets, mine-clearing operations in the Strait of Hormuz would begin, and the U.S. blockade would be lifted. The Iranian official said the MoU does not include a nuclear agreement, but only a pledge to negotiate nuclear issues at a later date, with more details expected on May 25.