A draft agreement between Iran and the United States reportedly addresses multiple key sticking points, including Iran’s nuclear program and oil sanctions. According to a senior Iranian official, the proposed memorandum of understanding outlines a pathway for Iran to limit its nuclear activities in exchange for waivers on U.S. oil sanctions. The draft also includes provisions regarding the strategically vital Strait of Hormuz, with Iran agreeing to reopen the waterway to commercial vessels. Simultaneously, the U.S. would lift its naval blockade of Iranian ports. The official stated that a final deal would be negotiated within 60 days of both sides agreeing to the draft. This potential agreement represents a significant step towards de-escalation in the region and a possible revival of the 2015 nuclear deal.