Iran and U.S. Draft Historic Accord to End Hostilities and Reopen Strait of Hormuz

Iran and the United States have drafted a comprehensive memorandum aimed at ending military hostilities and restoring maritime commerce through the strategically vital Strait of Hormuz. The 14-article agreement, obtained by Kyodo News, outlines a phased process for de-escalation and includes provisions for reopening shipping lanes, lifting economic sanctions, and resuming nuclear negotiations.

Under the draft accord, Iran would immediately begin reopening the Strait of Hormuz to all commercial shipping following the formal signing ceremony scheduled for Friday. A 30-day grace period would allow for mine-clearing operations and technical measures necessary to fully restore navigation. In return, the United States would immediately lift its blockade of Iranian ports and work to restore Iran's maritime traffic to pre-conflict levels within 30 days.

The memorandum provides for an immediate declaration ending all hostilities between Iran and the United States, along with their respective regional partners, including in Lebanon. Both countries would commit to respecting each other's sovereignty and territorial integrity while refraining from interference in internal affairs. The agreement allocates up to 60 days for negotiations on Iran's nuclear program, during which Iran would reaffirm its commitment to neither develop nor acquire nuclear weapons and maintain its suspension of uranium enrichment activities.

Significant economic provisions are included to incentivize compliance. The United States would grant waivers allowing Iranian oil, petrochemical products, and related exports to return to international markets. Frozen Iranian assets would be released in stages contingent on progress in nuclear negotiations. Additionally, the United States and regional Middle Eastern countries would formulate a reconstruction and economic development package for Iran valued at approximately $300 billion, with details to be finalized within 60 days of signing.

The accord represents a diplomatic response to more than a year of heightened tensions. The conflict escalated dramatically in June 2025 when Israel launched large-scale strikes against Iranian military and nuclear facilities, followed days later by U.S. attacks on major Iranian nuclear sites including Fordow, Natanz, and Isfahan. Iran subsequently responded with missile and drone attacks against Israeli and U.S. targets, while maritime traffic through the Strait of Hormuz was severely disrupted. Iranian diplomatic sources cautioned that some wording in the draft could still be revised before the signing ceremony.