US, Iran Prepare for Deal Signing as Financial Details Emerge

The US and Iran are preparing to formally sign an interim peace deal that has left both sides claiming victory, with details of the accord still emerging and energy insiders skeptical of how fast it can reopen the Strait of Hormuz.

The text of the so-called memorandum of understanding — which opens the way to two months of negotiations on Iran’s nuclear program and other issues — has yet to be published. A near-final draft seen by Bloomberg News shows Iran set to receive sanctions waivers that allow it to sell oil immediately, with other financial incentives deferred.

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