Story perspectives

US, Iran 80% Confident on Hormuz Deal, Unfreeze $24B

6/13/2026

Summary

US-Iran Deal

On June 12 2026, United States and Iran said they are 80-85 percent confident of a memorandum to reopen Strait of Hormuz.
The draft lifts U.S. blockade, permits ships, requires Iran to dismantle its nuclear program, destroy uranium and accept International Atomic Energy Agency (IAEA) inspections, and would let United States unfreeze $24 billion of assets.
Vice President J.D. Vance and envoy Steve Witkoff will sign at G7 summit after forces downed Iranian drones.

Summary

Iran Reconstruction Draft

The leaked draft cites $300 billion to cover damage from U.S. and Israeli strikes on Iran.
Iranian media said the draft includes a reconstruction plan for war damage, details pending negotiation.
Iran’s president warned sanctions and blocked oil routes have sharply raised inflation, stressing economic strain.
Pakistan’s prime minister Shehbaz Sharif announced that a final peace-framework text is secured and that both sides are working to finalize next steps.

History

Historical Context

On 14 July 2015 the United States, the European Union and the P5+1 signed the Joint Comprehensive Plan of Action, lifting sanctions after Iran cut its centrifuges to about 6,100 and capped enrichment at 3.67% for 15 years. The 2026 memorandum negotiated by U.S. Vice President J.D. Vance and envoy Steve Witkoff mirrors that framework, tying Strait of Hormuz reopening to nuclear steps and asset releases.

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US-Iran Deal

On June 12 2026, United States and Iran said they are 80-85 percent confident of a memorandum to reopen Strait of Hormuz.
The draft lifts U.S. blockade, permits ships, requires Iran to dismantle its nuclear program, destroy uranium and accept International Atomic Energy Agency (IAEA) inspections, and would let United States unfreeze $24 billion of assets.
Vice President J.D. Vance and envoy Steve Witkoff will sign at G7 summit after forces downed Iranian drones.

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