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Read what's inside the U.S.-Iran memorandum of understanding, according to senior U.S. officials.
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The Strait of Hormuz is expected to reopen and the U.S. is ready to lift all sanctions on Tehran under the 14-point agreement provided to NBC News
The agreement lays out conditions for the reopening of the Strait of Hormuz, calls for an immediate end to hostilities on all fronts and sets out expectations for the next phase of talks.
