Proposed Iran-U.S. deal would reopen Hormuz strait and lift oil sanctions, Iran state media says

The draft version of the Iran-U.S. memorandum of understanding includes a commitment from the U.S. to lift oil sanctions and a commitment from Iran to reopen the Strait of Hormuz within 30 days, Iranian state media reported Friday. The 14-point document dictates that final negotiations will not begin until the release of half of Iran's frozen funds, the suspension of Iran's oil sanctions, and the lifting of the naval blockade, the Mehr News Agency reported. …