Tehran, May 27 -- Iranian state broadcaster IRIB reported Wednesday that it had obtained a draft of the proposed 'Islamabad Framework' - a memorandum of understanding in development between the US and Iran geared towards extending the ceasefire and reopening the Strait of Hormuz, as well as launching discussions on more contentious matters.

As per the broadcaster, the text was an "unofficial preliminary document" containing 14 draft points that remain under negotiation and subject to revision.

Under the proposed framework, Washington would be required to lift its blockade of Iranian ports and vessels, while Tehran would commit to a gradual phased restoration of commercial shipping traffic through the Persian Gulf, the Sea of Oman, and the...