NYT Reveals Outline of US-Iran Interim Truce Memo: Includes Hormuz Strait Reopening and Reconstruction Fund

CNA Washington, May 28. The US and Iran have revealed they are close to reaching an interim memorandum of understanding, serving as a preliminary framework for a final, lasting agreement. The contents include the reopening of the Strait of Hormuz and the establishment of a reconstruction fund for Iran, while nuclear issues are left for subsequent negotiations. The New York Times noted that a major sticking point remains the Strait of Hormuz. Iran has proposed a $300 billion reconstruction fund and has indicated a willingness to allow US companies, including major oil and energy firms, to invest in Iran post-war. Nuclear enrichment issues will be addressed in later talks. The memorandum also includes non-aggression clauses and the potential release of approximately $24 billion in frozen Iranian assets.