Iran says draft U.S. deal includes oil sanctions waiver, nuclear limits and asset release

📌 Summary:

• A senior Iranian official said a final draft Memorandum of Understanding (MoU) with the U.S. covers Tehran's nuclear work, reopening the Strait of Hormuz, and U.S. waivers on oil sanctions
• A final deal is to be discussed within 60 days of the two sides agreeing
• The draft reportedly bundles nuclear limits, sanctions relief and release of frozen Iranian assets
• Reopening the Strait of Hormuz is significant as a chokepoint for global oil and LNG flows
• Outcome directly affects India given its heavy crude import dependence and West Asia energy exposure

🎯 UPSC Relevance: GS2 IR — West Asia geopolitics, nuclear diplomacy, sanctions regimes, and implications for India's energy security.

📝 Prelims Facts:

• Strait of Hormuz: chokepoint between the Persian Gulf and Gulf of Oman; ~one-fifth of global oil passes through it
• Instrument cited: a Memorandum of Understanding (MoU), not yet a final treaty
• 60-day window set for negotiating the final deal

🔑 Key Term: Strait of Hormuz — a narrow maritime chokepoint critical to world energy trade; any closure spikes oil prices.