BlockBeats report: On May 24, the U.S. Washington Post reported that the United States and Iran have agreed on a framework for a memorandum of understanding, which, once signed, would fully restore shipping in the Strait of Hormuz within 30 days.
The report cited an anonymous senior U.S. government official stating that the United States and Iran have developed a "framework" for a memorandum of understanding, including a 60-day extension of the ceasefire to allow both sides to negotiate a "final agreement" to permanently end the conflict, during which the Strait of Hormuz will be cleared of mines and reopened. The official said the memorandum includes a "commitment" that Iran will not possess nuclear weapons. Over the next two months, the U.S. and Iran will discuss the "mechanisms" for implementing this commitment.
However, neither Iran nor the United States signed any agreement on the 24th. An anonymous diplomatic source familiar with the situation told The Washington Post that once a memorandum of understanding is signed, Iran will immediately reopen the Strait of Hormuz and take measures within 30 days to restore the waterway to its pre-war condition. In addition, Iran, the United States, and their allies will announce an immediate cessation of all military operations on all fronts, including in Lebanon.
The report also cited an anonymous Iranian official stating that the opening of the Strait of Hormuz would occur 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 commence, and the U.S. blockade would be lifted. However, the Iranian official said the memorandum of understanding does not include a nuclear agreement but only commits to negotiating nuclear issues at a later date, with more details expected to be released on the 25th.