According to BlockBeats, on May 26, Al Arabiya reported that a draft agreement between the US and Iran has been reached. The draft agreement allows for the free opening of the Strait of Hormuz and the clearing of mines; navigation in the Strait of Hormuz must be restored within 30 days.
The agreement stipulates that the United States commits to easing sanctions on Iranian ports; it allows Iran to sell and export oil; it will provide specific sanctions waivers for Iranian oil exports and will consider easing sanctions on Iranian oil in stages, depending on Iran's fulfillment of its commitments. The agreement also stipulates continued nuclear negotiations to reach a long-term consensus.
