Iran agrees not to produce or acquire nuclear weapons in draft MOU - Reuters

Iran has agreed under a draft memorandum with the United States that it will neither produce nor acquire nuclear weapons, Reuters reported on Sunday, citing a senior Iranian official.

The official said Washington had also agreed that Tehran would dilute its highly enriched uranium stockpile inside Iran, with a mechanism to be discussed over the next 60 days.

Under the draft, the United States would waive oil sanctions on Iran for a specified period, allowing Tehran to sell oil and receive revenues, the official said.

The draft would also immediately reopen the Strait of Hormuz to all commercial vessels while the United States lifted its naval blockade, and Washington would release $25 billion in frozen Iranian assets, the official said.