US and Iran close to signing 60-day memorandum of understanding

The US and Iran are close to signing a 60-day memorandum of understanding, according to Axios. The key issue—nuclear weapons—will not be resolved. Instead, the document will pave the way for negotiations. Iran pledges never to develop weapons of mass destruction, and both sides will negotiate a suspension of Tehran's uranium enrichment program.

The US will also discuss lifting sanctions and unfreezing Iranian assets during the memorandum's term, but these steps will only be implemented as part of the final agreements. The deal also includes an end to the war between Israel and Hezbollah in Lebanon. If the memorandum is signed, the Strait of Hormuz will be reopened for the duration of the memorandum, shipping will be duty-free, and the United States will lift the blockade of the Islamic Republic's ports.