Washington DC, June 12 -- A letter of intent or memorandum of understanding between Washington and Tehran is expected to be finalised early next week, paving the way for advanced diplomatic talks towards a long-term bilateral accord, CBS News reported, citing two sources familiar with the ongoing manoeuvres.

The signing of the memorandum would kick off 60 days of talks to negotiate details of a US-Iran agreement, CBS News reported. According to multiple sources, that initial negotiating window could be extended as needed.

Early measures outlined in the text focus on securing "freedom of trade" by conducting demining operations to clear and reopen the strategic Strait of Hormuz.

Iran's foreign ministry spokesperson said that major secti...