'Iran has agreed to limit uranium enrichment'

Reuters, citing a senior Iranian official, reported that Iran has agreed to limit uranium enrichment.

Under the proposed agreement, Iran would neither develop nor acquire nuclear weapons. The proposed accord states that discussions on the mechanism and implementation of enriched uranium arrangements will take place within 60 days. The decision was made under a memorandum of understanding with the United States.

Iran would also reopen the Strait of Hormuz immediately after the lifting of the US blockade. The United States would ease oil-related sanctions imposed on Iran.

Washington has also indicated its willingness to release $25 billion in frozen Iranian assets and has assured Tehran that no new sanctions will be imposed.