Proposed U.S.-Iran Deal Would Reopen Strait of Hormuz, Ease Oil Sanctions

The United States and Iran could reportedly reach a peace agreement as soon as Sunday, according to Iranian state media, which says a draft proposal includes the lifting of U.S. oil sanctions and the reopening of the Strait of Hormuz within 30 days.

According to a report from Iran's state-affiliated Mehr News Agency, the proposed 14-point framework would delay final negotiations until several conditions are met, including the release of half of Iran's frozen assets, the suspension of oil sanctions, and the end of the naval blockade.

The report also claims the agreement would require the withdrawal of all U.S. forces from Iran and call on the United States and its allies to present reconstruction plans worth at least $300 billion to help rebuild the country.

While no agreement has been finalized, Iranian media reports indicate that a deal could potentially be signed in Switzerland as early as Sunday.