The United States and Iran are reportedly close to an agreement on a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations. The deal includes Iran committing to a moratorium on nuclear enrichment, the U.S. agreeing to lift its sanctions and release billions in frozen Iranian funds, and both parties agreeing to relax restrictions around transit through the Strait of Hormuz. Many of these terms are contingent on a final agreement, leaving the possibility of renewed war or an extended limbo. The MOU is being negotiated by U.K. officials Steve Witkoff and Jared Kushner, several Iranian officials, and could be finalized in Islamabad or Geneva. The duration of the moratorium on uranium enrichment is being actively negotiated, with three sources suggesting it would be at least 12 years and one suggesting 15.