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Media reports have revealed the contents of a potential draft agreement between the United States and Iran.
Al Jazeera reported that a draft deal between the U.S. and Iran has been reached, allowing free access through the Strait of Hormuz and the removal of mine-related incidents. Maritime traffic through the Strait of Hormuz is expected to be restored within 30 days.
The agreement reportedly requires the U.S. to commit to easing restrictions on Iranian ports. It would also allow Iran to sell and export oil, with sanctions on Iranian oil exports to be gradually lifted in phases.
Nikkei News reported that the ceasefire agreement reached in early April is set to be extended for another 60 days.
According to Al Jazeera, Qatari mediation has helped facilitate an understanding between the U.S. and Iran regarding the release of frozen Iranian assets, and both sides may announce the agreement soon. It appears increasingly likely that the U.S. and Iran could officially announce a deal as early as tomorrow.
Risk sentiment has improved. According to data, S&P 500 futures rose 0.62%, while Nasdaq 100 futures gained 0.85%.
Asian equity markets also opened higher today. South Korea’s KOSPI index surpassed the 8,000-point mark, rising more than 3% on the day. Japan’s Nikkei 225 opened up 0.23%, reaching 65,305.16.
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