New details have emerged about a proposed memorandum of understanding between the US and Iran that could pave the way for a broader agreement aimed at easing tensions and stabilizing the region.

The draft framework addresses several of the most contentious issues between Washington and Tehran, including Iran’s nuclear program, sanctions relief, frozen assets, and maritime security in the Strait of Hormuz, The Caspian Post reports via Reuters.

Under the reported terms, Iran would immediately reopen the Strait of Hormuz to all commercial shipping, while the United States would lift its naval blockade of Iranian ports. Washington would also refrain from imposing new sanctions during negotiations and temporarily ease restrictions on Iranian oil exports, allowing Tehran to resume sales and access revenue from global markets.

The proposal also reportedly includes the release of $25 billion in frozen Iranian assets through a combination of direct transfers and financial credit mechanisms.

In exchange, Iran would commit not to produce or acquire nuclear weapons and would maintain the current status of its nuclear program throughout the negotiation period. The framework would require Tehran to halt further uranium enrichment expansion and refrain from enlarging its nuclear facilities while talks continue.

A key component of the proposed roadmap is a 60-day timeline for negotiating a comprehensive final agreement. During that period, both sides would work to establish a mechanism for reducing Iran’s stockpile of highly enriched uranium and resolving remaining nuclear-related disputes.