BlockBeats report, on May 25, The New York Times reported that U.S. President Trump stated that the U.S. and Iran have "basically agreed" on a deal that may include ending the conflict, reopening the Strait of Hormuz, and lifting some sanctions against Iran. However, significant discrepancies remain between the U.S. and Iran regarding the details of the agreement.
According to multiple Iranian officials, Iran has agreed to a memorandum of understanding that includes halting multiple fronts of conflict, including in Lebanon, restoring commercial navigation through the Strait of Hormuz without tolls, the United States lifting its maritime blockade on Iran, and releasing approximately $25 billion in frozen Iranian assets abroad.
U.S. officials stated that one of the core elements of the agreement is Iran’s principled acceptance to relinquish its stockpile of highly enriched uranium, with the specific details to be resolved in future nuclear negotiations. Iran, however, indicated that nuclear issues will continue to be discussed over the next 30 to 60 days.
Reports indicate that since the U.S. and Israel launched strikes against Iran in February, the Strait of Hormuz has been severely disrupted, continuing to pressure global energy markets. Approximately 1,500 vessels are currently stranded near the Persian Gulf, and even after a deal is formally implemented, it may take weeks or even months for shipping to return to normal.
In addition, Israeli Prime Minister Netanyahu has held multiple calls with Trump. Recently, multiple countries, including the United States, Saudi Arabia, Qatar, the United Arab Emirates, and Pakistan, have also been involved in related mediation efforts. Some hawkish figures within the U.S. Republican Party have expressed concerns about the agreement, viewing it as a “catastrophic mistake” to allow Iran to retain nuclear capabilities.