Details about the content of a memorandum of understanding between the United States and Iran that may be signed later on June 14 are emerging, according to Reuters, which quoted a "senior Iranian official."
The text reportedly stipulates that Iran would immediately open the Strait of Hormuz while the United States in parallel would lift its naval blockade of Iranian ports.
Washington would also release $25 billion of Iran's frozen assets, including via direct cash transfers, impose no new sanctions until a final deal is reached, and waive oil sanctions that it has imposed on Tehran.
Iran, on the other hand, should agree to neither produce nor purchase nuclear weapons, enrich no new uranium until a final deal is concluded, and dilute its highly enriched uranium stockpile inside the country -- although an exact mechanism for that still needs to be worked out.