A memorandum of understanding (MoU) between Iran and the United States has been finalized, according to Iranian Deputy Foreign Minister Kazem Gharibabadi. The agreement, reached on Monday, will officially reopen the Strait of Hormuz to maritime traffic. Critically, the deal also lifts a previously imposed maritime blockade. Details of the MoU remain limited, but the announcement signals a potential de-escalation of tensions in the crucial waterway. The agreement’s signing date has not yet been announced, though officials indicate it will be soon. This development could have significant implications for global oil shipping and regional stability.