Hyderabad, May 24 -- A proposed agreement between the United States and Iran could restore maritime traffic through the Strait of Hormuz to pre-war levels within 30 days, according to reports by Tasnim News Agency.

The reported memorandum of understanding (MoU) requires the complete removal of the naval blockade during the same period. Iranian media said Tehran would not allow normal transit through the waterway unless maritime restrictions imposed on Iran are lifted.

The proposal also reportedly includes the phased release of part of Iran's frozen overseas assets.

Temporary sanctions relief proposed during negotiations

Tasnim reported that Tehran has not accepted any nuclear-related obligations at the current stage of discussions wit...