The United States and Iran have reportedly reached a memorandum of understanding (MoU) involving a substantial $300 billion aid package for Iran’s reconstruction. In exchange, the US will lift some sanctions currently imposed on the Islamic Republic. Details of the agreement were revealed by a senior US official during a Wednesday briefing with reporters. The MoU outlines a framework for economic cooperation focused on rebuilding Iran’s infrastructure. The specifics of which sanctions will be lifted were not immediately disclosed, nor were details regarding the conditions attached to the aid. This agreement marks a significant development in US-Iran relations, which have been strained for decades. Further information is expected as the agreement is formalized and implemented.