Hormuz, Frozen Funds, Nuclear Talks: 5 Big Things Araghchi Said About US-Iran Deal

A significant breakthrough in US-Iran relations is imminent, with Iranian Foreign Minister Seyed Abbas Araghchi confirming that a Memorandum of Understanding (MOU) to end the ongoing war is on the cusp of being signed. The proposed agreement, which Pakistan has played a key role in mediating, aims to de-escalate a conflict that began in late February 2026 and has profoundly destabilized the Middle East. While an initial accord seems close, critical details regarding Iran's nuclear program and the future of the Strait of Hormuz remain slated for a subsequent 60-day negotiation period. This development comes amidst severe geopolitical tensions, marked by Iran's effective closure of the Strait of Hormuz, which disrupted nearly 20% of global oil and LNG exports and triggered a major supply chain crisis. Reports from Iranian media suggest the draft MOU includes the release of a substantial $24 billion in frozen Iranian assets, a key demand for Tehran, though Washington insists any sanctions relief is contingent on Iran's compliance with future nuclear stipulations. The International Atomic Energy Agency (IAEA) has also highlighted a near-total loss of monitoring capabilities over Iran's nuclear sites since the war's outset, with Tehran openly violating its NPT safeguards and accumulating unaccounted-for enriched uranium. Looking ahead, the digital signing of this initial MOU is expected within days, opening a fraught 60-day negotiation period to iron out specifics on Iran's nuclear program and the terms of transit through the Strait of Hormuz. Iran's insistence on charging 'service fees' for Hormuz passage and its desire to retain uranium enrichment capabilities, even if down-blended, set the stage for contentious talks. The success of these subsequent negotiations will determine the true scope of de-escalation and the lasting impact on global energy security and nuclear non-proliferation.