US-Iran Peace Proposal Explained: Key Terms, Timelines and Potential Triggers

The latest peace proposal between the U.S. and Iran is designed to turn the fragile ceasefire between the two countries into a longer-term agreement. The first step would involve signing a memorandum of understanding, giving both sides 60 days to negotiate a final deal. Under the proposal, Iran would allow shipping in the Strait of Hormuz to return to normal levels, while the U.S. would gradually ease restrictions on Iranian ports. Iran would also agree to enter talks over its nuclear program, including its stockpile of highly enriched uranium, which Washington says could be used to build a nuclear weapon. In return, Iran wants access to billions of dollars in frozen assets and relief from sanctions that have badly damaged its economy. However, the U.S. says sanctions and asset releases would only happen if Iran follows through on its commitments. Major disagreements still remain, especially over Iran's nuclear activities and regional influence, meaning a final deal is far from guaranteed.