Hormuz Would Reopen One Month After Deal, Iran TV Says

Added: 2026-05-28

[00:00:00]Now, turning to the latest out of the Middle East, Iranian TV says it has obtained an unofficial draft of a US-Iran memorandum of understanding.

[00:00:07]Joining us now is Bloomberg Washington correspondent Tyler Kendall at the White House. Tyler, something that excited markets this morning, that sent oil prices lower. Uh what has been reported on this?

[00:00:18]Well, Danny, we should caution that at this point it is unclear how recent this draft is and what the US has agreed to.

[00:00:24]Because according to Iranian state TV, this draft memorandum of understanding would see a reopening of the Strait of Hormuz within 30 days of an agreement being finalized and the US lifting its naval blockade. These are already items that we know that the two sides were working towards in what could be a phased agreement that would then kick off perhaps longer-term negotiations around Iran's nuclear program. But importantly, Iranian state media is reporting that this memorandum of understanding would include Iran and Oman still having a mechanism in place to oversee shipping in the strait. We've heard earlier this week that Iran was working on some sort of navigational services fee, perhaps a rebranding of a toll mechanism, something that we know that this administration has said would be a non-starter in these negotiations.

[00:01:13]So, there is a lot to work to look at here and and a lot of questions that we still have because at this point while the White House has maintained that they are working towards a diplomatic solution, we know that there are just so many sticking points, including control over the strait, including what happens to frozen Iranian assets, and ultimately what those curbs are going to look like when it comes to Iran's nuclear program and what happens, Matt and Danny, to that stockpile of already highly enriched uranium.

[00:01:40]>> Well, I mean, we know that this administration is willing to move the goalposts almost endlessly from the March 6th position that was no deal other than an unconditional surrender.

[00:01:50]And this is pretty far from that.