US-Iran draft deal would reopen Strait of Hormuz, extend Lebanon ceasefire 60 days

WASHINGTON, United States — A draft understanding between the United States and Iran would reopen the Strait of Hormuz to international shipping without fees and extend a ceasefire covering Lebanon by 60 days, according to a report on Friday. During the extension, the two sides would relaunch nuclear talks. Under the terms, the United States would lift its embargo on Iran in exchange for cargo traffic returning to pre-war levels within 30 days. Iran would commit not to acquire nuclear weapons, and its stock of highly enriched uranium would be addressed. A US official said reducing enrichment levels under UN inspector supervision was among the options under discussion. On the economic side, Iran would receive temporary waivers allowing oil exports for 60 days, with sanctions relief to be expanded gradually if Tehran complies. The fate of Iranian funds frozen abroad remains a sticking point: Iran wants a portion released as soon as the deal is signed, while Washington insists on tying disbursements to compliance. US President Donald Trump said on Thursday evening that an "agreement" had been reached with Iran, adding that final arrangements would be completed in the coming days.