A draft agreement aimed at ending the war between Iran and the US is “nearly finalized and awaiting a final decision from Iran’s decision-making bodies,” state-run Islamic Republic News Agency reports, citing a Foreign Ministry spokesperson. IRNA reports draft outlines include: Any nuclear negotiations would take place during a 60-day period following the MoU signing The US would have no role in the future management of Strait of Hormuz Iran would make no commitment to transfer control of the strait or restore conditions that existed before the US and Israeli military attacks The memorandum would cover ending the war against Iran as well as hostilities on other regional fronts, including Lebanon Tehran has received what it describes as clear guarantees for the release of frozen assets through agreed mechanisms If signed, part of the frozen assets would be released immediately, with the remainder released gradually during the negotiations War compensation would be addressed through what the report describes as a “realistic and operational framework,” with Tehran saying it has devised a mechanism for obtaining compensation The issue of sanctions would be deferred until after the MoU is signed Follow-up negotiations would focus on three issues: continuation of Iran’s “peaceful nuclear program,” lifting all unilateral US sanctions and establishing a mechanism for compensation to Iran The report makes no reference to Israel or whether it would be bound by the agreement.