Iran says draft peace deal with US would reopen Hormuz shipping, end naval blockade

DUBAI - Iran's state TV said Tehran had obtained a draft of an initial, unofficial framework for a memorandum of understanding with the United States on ending their conflict.

Under the framework, Iran would restore commercial shipping through the Strait of Hormuz to pre-war levels within a month, while the United States would withdraw military forces from Iran's vicinity and lift a naval blockade.

State TV said the framework, which excludes military vessels and envisages Iran managing ship traffic through the strait in cooperation with Oman, was not yet finalised and that Tehran would take no steps without "tangible verification".

It added that if a final agreement was reached within 60 days, it could be approved as a binding U.N. Security Council resolution.

The emerging U.S.-Iran MoU stems from indirect talks launched after the war that began in February, with Pakistan playing a central mediating role between Tehran and Washington.

The war erupted after a sharp escalation between Iran and Israel earlier this year, with both sides exchanging missile and drone attacks that disrupted shipping in the Gulf and drew in U.S. military involvement, raising fears of a wider regional conflict.

-Reporting by Elwely Elwelly, Writing by Jana Choukeir, Editing by Philippa Fletcher and Toby Chopra/Reuters