The Memorandum of Misunderstanding between the US and Iran:
The US believes Iran will restore the Strait of Hormuz as a secure international waterway, make significant nuclear concessions, and potentially abandon its revolutionary ideology--including its opposition to the US and Israel and support for regional proxies--in exchange for major investment from the same Gulf countries that have just been on the receiving end of thousands of Iranian missiles and drones.
The Islamic Republic of Iran believes it will continue to control the Strait of Hormuz, receive tens of billions of dollars in upfront sanctions relief and unfrozen assets, make no concessions on missiles, drones, or proxies, while potentially offering to suspend uranium enrichment for the period of time they need to reconstitute their bombed nuclear facilities.