Ships near the Strait of Hormuz [Yonhap News Agency]

A final draft of a memorandum of understanding (MOU) to end the war between the United States and Iran includes provisions such as the immediate opening of the Strait of Hormuz, Reuters reported on the 14th (local time), citing a high-ranking Iranian official.

According to the report, Iran has pledged to abandon nuclear weapons and immediately open the Strait of Hormuz. In return, the US has agreed to lift maritime sanctions, return frozen assets, and grant a waiver on oil sanctions.

Under the final draft of the MOU, Iran has committed to immediately open the Strait of Hormuz to all commercial vessels, and the US has agreed to fully lift maritime sanctions against Iran in response.

The US has agreed to unfreeze $25 billion (approximately 33.5 trillion won) of Iranian overseas assets. The return of frozen funds is expected to be made through various methods, including direct cash transfers, cooperation between regional countries, and credit lines.

Furthermore, the US has agreed to grant a waiver on oil sanctions against Iran for a specific period, allowing Iran to legally sell its crude oil and receive the proceeds. In addition, the US will refrain from imposing new sanctions on Iran until a final agreement is reached.

Regarding Iran's highly enriched uranium, one of the most significant sticking points, the US has agreed to a plan to dilute it within Iranian territory, the news agency reported. The specific procedures and methods for Iran's self-dilution of uranium will be discussed during the upcoming 60-day negotiation period.

Iran has also clearly agreed through the draft MOU that it will not manufacture or acquire nuclear weapons under any circumstances, and will maintain the status quo without further uranium enrichment or expansion of nuclear facilities until a final agreement is reached, Reuters added.