US, Iran close to deal, extend ceasefire, allow Iran to sell oil: Axios
Key takeaways
- The Memorandum of Understanding (MOU) that both parties are expected to sign would include concessions from both sides, with the possibility of extension during the 60-day period.
- An important element of the deal is the reopening of the Strait of Hormuz.
- The US would lift its blockade on Iranian ports and waive some sanctions it had imposed, allowing the country to sell oil freely.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize The United States and Iran have reached close to an agreement, Axios revealing new details on Sunday reported potential 60-day extension in ceasefire extension and what elements of the agreement had been accepted by both parties and which are expected to remain under negotiation.
The Memorandum of Understanding (MOU) that both parties are expected to sign would include concessions from both sides, with the possibility of extension during the 60-day period.
An important element of the deal is the reopening of the Strait of Hormuz. Axios website reported that the current draft of the MOU specifies that the Strait would be opened without tolls, and Iran would clear the mines it had deployed there.