PANews reported on May 24th, citing US media reports, that the upcoming agreement between the US and Iran involves a 60-day extension of the ceasefire, during which the Strait of Hormuz will be reopened. Iran will be able to freely sell oil and will negotiate limits on its nuclear program. The US will lift sanctions on Iranian ports and grant some waivers to allow Iran to sell oil freely. The draft memorandum of understanding includes a commitment from Iran to never pursue nuclear weapons. Iran, through intermediaries, has verbally pledged to the US the extent of its willingness to make concessions regarding the suspension of uranium enrichment.